Digit - About the company
Digit is an acquired company based in San Francisco (United States), founded in 2013 by Ethan Bloch. It operates as a Mobile app that automatically saves money for the users. Digit has raised $64M in funding from General Catalyst and Ribbit Capital. The company has 54 active competitors, including 14 funded and 6 that have exited. Its top competitors include companies like Whop, Qapital and SaveUp.
Company Details
Digit is a mobile app that automatically saves cash for users. It transfers a certain amount to a non-interest-bearing, FDIC-insured savings account. The amount saved is based on the analyses of the income and spending habits of the users. The user can withdraw the saved amount at any time. The app is available on both Android and iOS platforms.
- Website
- digit.co
- Registered Address
- San Francisco, California
Key Metrics
Founded Year
2013
Location
San Francisco, United States
Stage
Acquired
Total Funding
$64M in 5 rounds
Latest Funding Round
Investors
Ranked
2nd among 54 active competitors
Employee Count
111 as on Dec 31, 2022
Similar Companies
Exit Details
Acquired by Oportun (Nov 16, 2021)
Legal entities associated with Digit
Digit is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
HELLO DIGIT, INC. CIN: 461730710 , United States, Active | Dec 26, 999 | - | 111 (As on Dec 31, 2022) | - |
Digit's acquisition details
Digit got acquired by Oportun on Nov 16, 2021 at an acquisition amount of $213M. It was facilitated by J P Morgan, Jefferies, Wilson Sonsini Goodrich & Rosati and 2 more.
Click here to take a look at Digit's acquisition in detail
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Digit's funding and investors
Digit has raised a total funding of $64M over 5 rounds. Its first funding round was on Dec 16, 2014. Its latest funding round was a Series C round on Sep 30, 2019 for $*****. 6 investors participated in its latest round. Digit has 14 institutional investors and 1 angel investor.
Here is the list of recent funding rounds of Digit:
Filter this list
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Sep 30, 2019 | 4508923 | Series C | 3447132 | 4837442 | 2713384 | 7414522 |
Jun 02, 2016 | 3031844 | Series B | 5133375 | 9702756 | 1775196 | |
Jun 11, 2015 | 7974679 | Series A | 2344331 | 3048462 | 1922723 | 6462649 |
View details of Digit's funding rounds and investors
Digit's founders and board of directors
Founder? Claim ProfileThe founders of Digit is Ethan Bloch.
Here are the details of Digit's key team members:
- Ethan Bloch: Founder & CEO of Digit. They are also an angel investor in 2 startups.
View details of Digit's Founder profiles and Board Members
Digit's employee count trend
Digit has 111 employees as of Dec 22. The total employee count is 8.0% more than what it was in Dec 21. Here is Digit's employee count trend over the years:
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Digit's Competitors and alternates
Top competitors of Digit include Whop, Qapital and SaveUp. Here is the list of Top 10 competitors of Digit, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Whop 2021, Brooklyn (United States), Series B | Platform offering tools and infrastructure for creators and entrepreneurs to sell digital products, memberships, and services | $217M | 68/100 | |
2nd | Digit 2013, San Francisco (United States), Acquired | Mobile app that automatically saves money for the users | $64M | 64/100 | |
3rd | Qapital 2012, New York City (United States), Series B | Mobile app for micro-savings | $55.3M | 58/100 | |
4th | SaveUp 2011, San Francisco (United States), Acquired | Personal finance reward platform | $7M | 45/100 | |
5th | Nav.it 2016, Seattle (United States), Seed | App-based money management platform for individuals | $1.15M | - | 44/100 |
6th | Apella 2014, Glastonbury (United States), Seed | Multiple goal-based saving platform for individuals | - | 43/100 | |
7th | Finnt 2014, United States, Seed | Decentralized platform for financial products | $4M | 41/100 | |
8th | WealthBuilder 2017, Las Vegas (United States), Unfunded | App-based financial management platform for individuals | - | - | 40/100 |
9th | Fairhaven Wealth Management 2015, Wheaton (United States), Acquired | Investment and wealth management firm serving individuals | - | - | 39/100 |
10th | SmartyPig 2007, Des Moines (United States), Seed | Online piggy bank for saving towards financial goals with high interest | $1M | - | 39/100 |
Looking for more details on Digit's competitors? Click here to see the top ones
Digit's Investments and acquisitions
Digit has made no investments or acquisitions yet.
Reports related to Digit
Here is the latest report on Digit's sector:
News related to Digit
•
CFPB Targets Hello Digital that Allegedly Used a Faulty Algorithm that Depleted Checking AccountsCrowdfund Insider•Aug 10, 2022•Digit
•
SoftBank Leads $65 Million Funding Round of DigitsFinance Magnates•Mar 28, 2022•SoftBank Group, Google Ventures, Digits, The Twenty Minute and 3 others
•
FinTech Oportun Completes Acquisition of Banking Platform DigitPYMNTS.com•Dec 23, 2021•Oportun, Digit
•
Fintech Lender Oportun to Buy Online Banking Platform DigitBloombergQuint•Nov 17, 2021•Oportun, Digit
•
Digit Raises $27.5M Series C Funding RoundFinSMEs•Sep 30, 2019•Digit, General Catalyst, Ribbit Capital, Google Ventures and 3 others
•
Cleartrip's tie-up with Digit pays off as insurance sales soarIndiatimes•Dec 28, 2018•Cleartrip, Digit, Digit Insurance
•
Digit’s first move beyond saving money is a feature to pay down credit card debtTechCrunch+•Apr 24, 2018•Digit
•
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Beginning this week, automated savings app Digit will start charging users $3 a monthTechCrunch+•Jul 17, 2017•Digit
•
Fairfax to back general insurance startup DigitIndiatimes•Jun 13, 2017•Digit, Fairfax Financial Holdings, Digit Insurance
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