FinTron Secures Series A Funding to Help Expand Opportunities in Connecticut

New funding will help foster innovation and provide jobs and educational opportunities to Connecticut students

STAMFORD, Conn., June 1, 2022 /PRNewswire/ -- FinTron, a Connecticut-based investment and personal finance application whose mission is to democratize personal finance for the mobile-first generation, today announced the close of its $6.5 million Series A funding round, bringing the company's total funds raised to nearly $10 million. With new funding and the help of key partners, FinTron plans to continue expanding its organization and staff, provide greater financial education and job opportunities to high school and college students, and cultivate new and existing partnerships in Connecticut.

In an effort to provide greater financial access to Connecticut youth, FinTron intends to deploy upgraded technology and product offerings including a new rewards engine, crypto trading capabilities, enhanced education technology, and a Neo-Bank offering.

FinTron has already made significant strides in advancing its mission. Most recently, the company partnered with Junior Achievement of Greater Fairfield County and the Technology Incubation Program (TIP Digital) at the University of Connecticut (UConn) to provide financial literacy programs and promote financial inclusion for thousands of high school and college students. To add, 26-year-old FinTron CEO and Connecticut native Wilder Rumpf, was appointed to the UConn FinTech advisory board to help develop and grow the University's new FinTech master's program.  FinTron's new HQ located in downtown Stamford will provide more space for its existing employees and potential incoming interns, enabling the company to further expand its business and operations.

Connecticut Innovations (CI), the state's leading venture capital arm, and Webster Bank, one of only two banks in Connecticut to be listed among the 100 largest publicly traded banks in the U.S, were both key investors in helping FinTron close its Series A round. FinTron, CI, UConn and Webster Bank will together continue to advance their parallel missions to improve the economy in Connecticut and increase financial literacy amongst high school and college students.

"Working with key investors, Webster Bank and Connecticut Innovations has made it possible for us to drive our mission and increase financial literacy for Connecticut students," said Rumpf. "We plan to continue building and expanding our partnerships with businesses and educational institutions in Connecticut that believe in and share our same mission." 

For generations, personal finance has been done the old, complicated way. For this generation, there's FinTron. With the support of major Connecticut based institutions, including Connecticut Innovations, Sacred Heart University and the University of Connecticut, FinTron has sourced over 75% of its employees from Connecticut and 100% from the Tri-State area. To learn more about FinTron, visit FinTroninvest.com.

About FinTron

We promote financial freedom for the mobile-first generation through better education, affordable financial products, and philanthropic give-back programs. For generations, personal finance has been done the old, complicated way. For this generation, there's FinTron.

About Sage Venture Partners 

Sage Venture Partners (SVP) is an evergreen venture capital fund which invests in early-stage startups across diverse industries. The firm backs entrepreneurs with proven track records and strong strategic vision.  Sage Venture Partners is founded and led by Frederick J. Warren. Before Sage Venture Partners, Mr. Warren co-founded Brentwood Associates, which became a leading private equity and venture capital firm on the West Coast and was an early backer of Apple Computer.

About Connecticut Innovations 

Connecticut Innovations (CI) is Connecticut's strategic venture capital arm and the leading source of financing and ongoing support for Connecticut's innovative, growing companies. CI provides venture capital and strategic support for early-stage technology companies, financial support for innovation and collaboration, and connections to its well-established network of partners and professionals. For more information, please visit http://www.ctinnovations.com. 

About AUA Capital Management 

A family office and alternatives-oriented investment firm tracing its origins to the Unanue Family Office founded by Andy Unanue, the former COO and acting board member of Goya Foods, Inc., and the late Joseph Unanue, Goya's long-time Chairman and CEO. Led by president Michael Salerno, the AUA family office focuses on both public markets and private market venture capital, growth equity, commercial real estate, and alternatives-oriented investments.

About Webster Bank 

With over $60bn in assets and headquartered in Stamford, Connecticut, Webster Bank serves consumer and business customers throughout the northeast from New York to Massachusetts. Webster Bank is one of only two banks in Connecticut to be listed among the 100 largest publicly traded banks.

About UConn Technology Incubation Program (TIP) 

TIP supports CT based startups ready to transform their respective markets by offering mentorship, lab and office space, educational/networking events, and a variety of other programming.

About Junior Achievement of Greater Fairfield County 

JA is dedicated to inspiring and preparing young people to succeed, through programs which focus on financial literacy, work and career readiness, and entrepreneurship. JA provides essential business and life skills which empower students to build their own successful futures and help to close the opportunity gap. JA is committed to delivering practical, relevant, and innovative learning experiences that prepare young people to succeed in their careers and to manage their personal finances.

Media contact: Jacob Tomanelli, [email protected]

SOURCE FinTron, Inc.