Lending platform Happy Money has a new reason to be happy, after a recent funding round boosted the company’s valuation to $1.1 billion.
Happy Money, which provides unsecured loans in partnership with credit unions, announced the $50 million Series D-1, led by Anthemis Group and CMFG Ventures, in a press release Tuesday, February 8.
“Our growth trajectory and latest fundraising reflects the strength of our business and our team – and demonstrates investors’ continued confidence in Happy Money’s ability to grow rapidly,” said Happy Money CEO Jeff Winner. , in the announcement. “This funding allows us to accelerate the development and expansion of our products, including an end-to-end lending API, and to deepen our partnerships.”
“Anthemis invests in the next generation of fintech leaders like Happy Money who share our values of diversity, inclusivity and customer-centric innovation,” said Sean Park, Founder of Anthemis Group. “Happy Money has a proven track record of delivering a lending experience that benefits both its partners and consumers, and I look forward to seeing all they accomplish in the years to come.”
The fundraiser comes shortly after Happy Money had a strong fourth quarter in 2021, average 42% year-over-year growth in creations between 2018 and 2021 and Winner’s appointment as CEO and member of the board of directors.
Prior to joining Happy Money, Winner held senior roles at Twitter and Stripe, and served as chief technology officer for Marcus, the consumer business of Goldman Sachs, where he led the development of the Apple Card and the first cloud-based Goldman Sachs product.
Founded in 2009 and based in California, Happy Money has helped nearly 205,000 members, working with lending partners to fund $3.7 billion in loans by the end of 2021.
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With the new valuation, Happy Money becomes a “unicorn,” a term for a private company valued at over $1 billion.
Other companies that achieved unicorn status this week include account-to-account payment platform GoCardless and Pakistani company BNPL Qisst.