CHICAGO, Nov. 24, 2020 /PRNewswire/ -- EarlyBird, the Chicago-based Fintech gifting platform, has announced a $2.4M financing along with the upcoming public launch of its mobile app that empowers parents, family, and friends to collectively invest in the financial futures of the kids they love. The company will be officially launching their iOS app to the App Store this December, just in time for the holidays.
In one seamless app, EarlyBird enables parents or guardians to set up custodial investment accounts for their children in minutes, while friends and family can easily make meaningful and sustainable financial gifts to the children in their life. With each gift, contributors are encouraged to record a video memory that will leave a lasting legacy of love while also providing an emotional touch to their financial gift.
"The origin story of EarlyBird is a personal one," CEO and co-founder Jordan Wexler said. "It started when my first niece was born, and I found myself showering her with toys and clothes, only to see her outgrow them in a few weeks. I was determined to give something more meaningful and lasting. In the spirit of the financial lessons and wisdom my father endowed on me as a child, I wanted to do the same for her. As I looked at options to invest in her financial future they all felt clunky, impersonal, or too transactional considering the lasting impact a gift like this would have on her life. At that moment, I knew there was a problem that needed to be solved."
This fundraise was led by Network Ventures, with strategic participation from Chingona Ventures, Bridge Investments, Kairos Angels, Takoma Ventures, and Subconscious Ventures along with notable angel investors.
"As a parent of a young child, I love that EarlyBird makes it easy to set up an account and allows friends and family to invest in my child's future," said Jeff Maters, Managing Director of Network Ventures. "With the socially-distanced holidays upon us, friends and family can send meaningful gifts and video messages that grow in value and importance over time."
Caleb Frankel, the COO and Co-Founder of EarlyBird, expressed gratitude for all the support the company has seen. "Since we started this journey 15 months ago, it's been amazing to see the global-reach and diverse support we've had around EarlyBird," Frankel said. "From our early investors and advisors who are excited contribute to the transformation of financial gifting and the virality that comes with it, to the hundreds of parents from all walks of life who have already kickstarted their children's financial journey during our closed beta, to the thousands of loving relatives and friends who have signed up for early access to and are ready send their first financial gift and invest in the children they love this winter holiday season, it goes to show that we have tapped into something that has been missing across the financial services and Fintech space for some time now — community."
Samara Hernandez, Founding Partner at Chingona Ventures added, "At Chingona Ventures, we believe in democratizing access to financial education. EarlyBird allows parents to bond with the child to learn to invest in companies they believe will make an impact on the world while growing their savings. Jordan and Caleb understand this and have built a unique product that not only creates easy access to a simple investment vehicle for parents, but also creates a community around the child by allowing others to invest in their future in an engaging and personalized way."
The funds raised will be used to further build the team and fuel the public launch of EarlyBird. With this financing, EarlyBird will onboard the first few thousand parents, families, and friends who are excited to help build financial freedom for the next generation.
EarlyBird is a gifting platform that empowers parents, family, and friends to collectively invest in a child's financial future, starting at the earliest age. Their focus is transforming financial gifting, making it personal, purposeful, and timeless, empowering future generations with financial freedom and the ability to change the world. To learn more and sign up for early access, go to getearlybird.io.