SecureSave is a technology company.
SecureSave has raised $11.0M across 1 funding round.
SecureSave has raised $11.0M in total across 1 funding round.
SecureSave has raised $11.0M in total across 1 funding round.
SecureSave's investors include Balderton Capital, Karim Faris, MUFG Innovation Partners, Pantera Capital, PS Investments, Truist Ventures, Randy Komisar.
SecureSave is a financial technology company that builds an employer-sponsored Emergency Savings Account (ESA) program designed to help employees build and maintain emergency savings automatically. The product serves employers across various sectors, enabling their workforce to save effortlessly through payroll deductions into FDIC-insured accounts accessible via a user-friendly app. SecureSave addresses the widespread problem of financial insecurity among employees by automating savings, offering employer incentives, and providing easy access to funds during emergencies. The company has demonstrated strong growth momentum, with high adoption rates—over half of invited employees participate—and many users saving an average of $400 within four months, reducing reliance on credit and retirement funds[1][6].
SecureSave was founded in 2020 during the economic turmoil caused by the COVID-19 pandemic, a period that exposed the fragility of many Americans' financial situations. The company was co-founded by Devin, an experienced consumer finance executive with prior successful startups, and Bassam, a veteran technology entrepreneur with decades of experience in software ecosystems. Their personal experiences with financial insecurity inspired them to create an easy, automatic emergency savings solution. Early in the process, they connected with Suze Orman, a renowned personal finance expert, who became a co-founder and advocate for the mission. The founders bonded around the vision of making emergency savings accessible and automatic for every employee, launching the first employer-sponsored ESA program purpose-built for this goal[2][4][5].
SecureSave rides the growing trend of financial wellness solutions integrated into employee benefits, addressing the critical market need for emergency savings amid rising economic uncertainty. The timing is crucial as financial stress is the leading cause of workplace distraction and turnover, and traditional retirement savings are often tapped prematurely for emergencies. By automating emergency savings, SecureSave reduces financial stress, improves employee productivity, and supports retention, influencing the broader ecosystem by setting a new standard for workplace financial benefits. The company’s approach aligns with increasing employer focus on holistic employee well-being and the digitization of financial services[1][6][7].
Looking ahead, SecureSave is positioned to expand its footprint as more employers recognize the value of emergency savings programs in enhancing workforce stability and productivity. Trends such as increased employer investment in financial wellness, advances in fintech automation, and heightened employee demand for accessible benefits will shape its growth. The recent acquisition by HSA Bank signals potential integration with broader health and wealth benefits, amplifying its influence. SecureSave’s future likely involves scaling its platform, deepening employer partnerships, and innovating features to further simplify savings and financial security for workers, continuing to transform how employees prepare for financial setbacks[5][7].
SecureSave has raised $11.0M across 1 funding round. Most recently, it raised $11.0M Seed in June 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2022 | $11.0M Seed | Balderton Capital, Karim Faris, MUFG Innovation Partners, Pantera Capital, PS Investments, Truist Ventures, Randy Komisar |