Financial Wellness Platform OneEleven Raises Financing from Inspiration Ventures and U.S. News & World Report
OneEleven Financial Wellbeing
This funding will support OneEleven’s mission to help people build healthy money habits and grow their wealth regardless of income level
NEW YORK, NY, Aug. 4, 2021 /EINPresswire.com/ – With 63 percent of American workers saying their financial burden has increased since the pandemic * began, the need for accessible financial literacy is greater than ever. OneEleven announced that it has initiated a round of funding to further expand its inclusive financial wellness platform that benefits everyone regardless of income. The round was led by Inspiration Ventures with the participation of US News Digital Ventures LLC, an investment arm of US News & World Report.
“As a media company whose mission is to provide expert advice to our audiences, we are excited to partner with OneEleven to invest in companies that help Americans make good financial decisions every day,” said Bill Holber, CEO of US News. He added, “With more than a third of Americans lacking enough savings to cover a $ 400 emergency, prioritizing financial health has never been more important. After last year of financial uncertainty, businesses are realizing across the country the need to make the tools available to their employees. ” to establish good financial habits and plan for the future. “
From Fortune 500 companies to technology startups, OneEleven works with companies of all sizes to deliver its financial wellness platform as an employee benefit. Their proprietary process is backed by behavioral science and combines technology, education, and psychology with real human coaches to help individuals develop healthy money habits that maximize happiness and reduce financial stress.
“We are particularly excited about the business potential of OneEleven, the large group of customers who need expert financial assistance to provide high-quality, large-scale financial education,” said Gady Nemirovsky, General Partner of Inspiration Ventures. “We believe OneEleven offers the most comprehensive user-based financial management solution on the market today.”
Participating employees were able to start saving, create an emergency budget, manage debts and plan for the future – at no cost to them. Unlike traditional fringe benefits like 401 (k) which require an employee contribution, OneEleven is fully employer sponsored and does not require any purchases by the employee to access services.
“The truth is that most existing benefits indirectly require financial stability by requiring an employee contribution. It’s great to see forward-thinking companies recognize this by sponsoring a financial wellness benefit like OneEleven that is available to all employees regardless of their current situation, ”said OneEleven Founder and CEO Dani Pascarella, CFP®.
OneEleven’s goal of democratizing financial wellbeing remains the same, but its ability to reach more people has now been bolstered by the power of two incredible organizations, Inspiration Ventures and US News & World Report.
If you are a future-oriented company that would like to offer your employees the power of a financial wellness program, contact us at [email protected]
* PwC Employee Financial Wellbeing Survey 2021
OneEleven is a behavioral science-powered financial wellness platform that combines technology, education, and psychology with real human coaches to help people develop healthy money habits that maximize their happiness and reduce financial stress. OneEleven believes that healthy financial habits enable people to live their happiest lives and that financial empowerment should be accessible to everyone regardless of income level.
About Inspiration Ventures
Inspiration Ventures is a Silicon Valley-based mutual fund that believes the best founders are steadfast in their mission to build a better world through exceptional companies. With a combined 30 years of operational excellence in founding and scaling companies, we understand the startup journey and accompany founders and CEOs every step of the way. Our unique investment approach seeks to diversify risk and maximize early return on capital – by targeting investor incentives directly towards entrepreneurs.
Via US News & World Report
US News & World Report is a versatile digital media company dedicated to helping citizens, consumers, business leaders and political officials make important decisions in their lives. We publish independent reporting, rankings, data journalism and advice that has earned the trust of our readers and users for almost 90 years. Our platforms on usnews.com include Education, Health, Money, Travel, Cars, News, and 360 Reviews. US News reaches more than 40 million people every month.
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August 04, 2021, 6:22 PM GMT
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