Rapidly Growing U.S. Banking Challenger Envel Launches Crowdfunding

BOSTON, Oct. 13, 2021 /PRNewswire/ -- Envel, a Boston-based AI powered U.S. neobanking challenger helping 18-35 year olds to save, budget and invest using automation, has now amassed over 16,000 users since launch Q1 2021 and has experienced rapid growth recently with onboarding 1 new user every 60 seconds. Envel's proprietary autopilot technology has helped their users build up savings of over $600,000 effortlessly. Envel is now crowdfunding for the second time on StartEngine after raising $2M from nearly 2,000 investors earlier this year on Wefunder. Envel has set an ambitious goal to transform the banking industry and help consumers by taking the thinking out of money management with one-click saving, budgeting and investing.

Given that over 65% of working Americans live paycheck to paycheck, Envel believes that its partnership with investors can pave the way for generational wealth for years to come. 
Envel seeks to help all age groups and demographics with minimal fees, no minimum balance, and no credit checks by prioritizing financial inclusion and its zealot-like approach to solving customer pain points like debt. Envel's mission is simple: to help people manage their money better to live better lives, using patent-pending AI technology that automates all aspects of personal finance.

With the Securities and Exchange Commission (SEC) recently increasing the regulation crowdfunding cap to $5M, Envel is launching a second crowdfunding campaign through StartEngine following enormous success on WeFunder. For those who missed the opportunity to invest in Envel earlier this year, this is a chance to get in on an innovative company that's permanently changing the way consumers interact with the financial industry. Envel's valuation has more than doubled since their WeFunder campaign from $15M to $35M, with a rapidly growing user base and increasing interest from investors worldwide.

Envel takes a community-centric approach to personal finance, collaborating with users on a daily basis to reinvent the banking industry in a way that best caters to the needs of consumers. Many WeFunder investors went on to become Envel users, and gave the team valuable feedback to help improve the app.

Founder and CEO Steve Le Roux says

"We're proud to partner with StartEngine to help fund the next stage of our journey. The crowdfunding community has been invaluable so far. Not only helping fuel our dream to make finance fun and remove the pain from banking through, but providing critical feedback to refine our product to meet consumer needs. It's been absolutely wonderful: I just cannot think of a better way to build a company."

Many people today, particularly the younger generation, are struggling now more than ever due to the impact of the pandemic. The Envel movement gives Americans a chance to help set themselves up for financial success and partner with a bank that cares about the community's financial future as a whole. Investing in Envel is not only an excellent opportunity to lend a helping hand to a mission-driven company, but a chance to connect with a community of like-minded people. Whether you're a crowdfunding novice or a newbie, it's time to invest in something you believe in!

About Envel, Inc.

Founded at Harvard and with pre-seed funding from the MIT Sandbox, Envel, a banking challenger, is on a mission, using its patent pending automation to make it virtually impossible for everyone not to save, budget and ultimately invest. The team is led by CEO and founder Steve Le Roux, who conceptualized the idea for Envel as part of his studies at Harvard. For more on Envel see www.envel.ai. Envel has so far received $6.2M in seed investments. Envel is a financial technology company, not a bank. Banking services provided by nbkc bank, Member FDIC.

Media contact:
Jacqui Epstein
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SOURCE Envel