Empower - About the company
Empower is a series B company based in San Francisco (United States), founded in 2016. It operates as a Financial technology empowering potential with cash advances, credit lines, and credit cards. Empower has raised $174M in funding from investors like DEFY VENTURES, Blisce and Icon Ventures. The company has 167 active competitors, including 10 funded and 11 that have exited. Its top competitors include companies like Earnin, Brigit and Beem.
Company Details
Financial technology empowering potential with cash advances, credit lines, and credit cards. They provide access to cash and credit, considering real-time financial habits beyond traditional credit scores. The company offers cash advances, lines of credit, and credit cards, aiming to say "yes" when traditional lenders might not. They utilize bank linking and alternative data for underwriting, offering personalized offers based on income and expenses. The platform includes features like credit score monitoring, personalized budgeting, and automatic savings. They report payments to credit bureaus to help customers build credit. This is a B2C fintech company offering multiple financial products and services through its app, leveraging technology to expand access to fair credit and promote financial well-being. The business model includes subscription fees and aims to have a social impact by providing financial access to underserved populations. Login and Get Started options are available.
- Website
- empower.me
- Email ID
- *****@empower.me
- Registered Address
- San Francisco, California
Key Metrics
Founded Year
2016
Location
San Francisco, United States
Stage
Series B
Total Funding
$174M in 4 rounds
Latest Funding Round
Investors
Ranked
7th among 167 active competitors
Employee Count
302 as on Mar 31, 2026
Legal entities associated with Empower
Empower is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
EMPOWER FINANCE, INC. CIN: 811879144 , United States, Active | Mar 17, 2016 | - | 142 (As on Dec 31, 2024) | - |
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Empower's funding and investors
Empower has raised a total funding of $174M over 4 rounds. Its first funding round was on Sep 19, 2018. Its latest funding round was a Series B round on Sep 06, 2022 for $*****. 5 investors participated in its latest round. Empower has 10 institutional investors and 1 angel investor.
Here is the list of recent funding rounds of Empower:
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Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Sep 06, 2022 | 6143951 | Series B | 6026018 | 8483115 | 3827949 | 7108156 |
Sep 06, 2022 | 7154428 | Conventional Debt | 4752090 | 8961672 | 1644747 | |
Mar 05, 2020 | 5948012 | Series A | 7985185 | 9258787 |
View details of Empower's funding rounds and investors
Empower's founders and board of directors
Founder? Claim ProfileEmpower's employee count trend
Empower has 302 employees as of Mar 26. Here is Empower's employee count trend over the years:
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Empower's Competitors and alternates
Top competitors of Empower include Earnin, Brigit and Beem. Here is the list of Top 10 competitors of Empower, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Earnin 2012, Palo Alto (United States), Series C | Provider of a platform for accessing earned wages and financial tools | $190M | 77/100 | |
2nd | Brigit 2017, New York City (United States), Acquired | Mobile application offereing loans | $38M | 75/100 | |
3rd | Beem 2006, San Francisco (United States), Seed | Cash advance app for emergencies | $7M | 63/100 | |
4th | Wonga 2007, London (United Kingdom), Acquired | Provider of short-term and installment loans via an online platform | $158M | 61/100 | |
5th | FloatMe 2018, San Antonio (United States), Series A | Online platform for cash advance loans | $20.2M | 55/100 | |
6th | Klover 2019, Chicago (United States), Series B | App-based platform for cash advance loans | $89.3M | 53/100 | |
7th | Empower 2016, San Francisco (United States), Series B | Financial technology empowering potential with cash advances, credit lines, and credit cards | $174M | 50/100 | |
8th | Vola Finance 2017, Newark (United States), Series A | Developer of an online lending platform | $3.5M | 50/100 | |
9th | Instant Cash Advance Loan App 2021, Glendale (United States), Unfunded | Online marketplace for cash advance loans | - | - | 47/100 |
10th | Fig Loans 2014, Sugar Land (United States), Seed | Offers installment loans as a payday loan alternative | $4.73M | 45/100 |
Looking for more details on Empower's competitors? Click here to see the top ones
Empower's Investments and acquisitions
Empower has made 1 investment in CoRover and acquired Cashalo and Petal.Here is the list of these investments and acquisitions:
Date of Investment/Acquisition | Type | Company Name | Founded Year | Location |
|---|---|---|---|---|
Apr 09, 2024 | Acquisition | 2017 | Cabanatuan City (Philippines) | |
Apr 09, 2024 | Acquisition | 2016 | West Sacramento (United States) | |
Jul 05, 2021 | Investments | 2016 | Bengaluru (India) |
Reports related to Empower
Here is the latest report on Empower's sector:
News related to Empower
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Empower Finance strikes deal to buy Petal with Cashalo acquisition completedFintechinshorts•Apr 22, 2024•Empower, Petal, Cashalo
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China Mobile launches PayMax, a digital payments solution, in PakistanShareandstocks•Jan 05, 2023•China Mobile, Empower
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