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Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$54.7M
Headquarters
New York City, New York
Founded
2021
Accrue Savings provides payment solutions that help customers save and spend with their favorite retailers. Their main product is a dedicated wallet that centralizes incentives, store credit, and deposits, which is also FDIC insured through Bangor Savings Bank to protect customer funds. This wallet enhances customer engagement and retention for retailers by serving as a hub for savings and spending. Accrue Savings differentiates itself from competitors by focusing on partnerships with retailers, which allows them to increase revenue and customer loyalty. The company's goal is to create a seamless experience for consumers while benefiting merchants through tailored programs and instant rewards on deposits.
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Total Funding
$54.7M
Meets
Industry Average
Funded Over
3 Rounds
Industry standards
Here's our roundup of the people, product and partner news from the global travel industry this week. Kayak, Southwest AirlinesKayak, a metasearch engine for travel services, has. announced its integration with Southwest Airlines, allowing its users to see Southwest fares in their search. results. They will be able to compare fare attributes, travel credit
Bridal and formalwear brand Allure Bridals has debuted a finance program for retailers. The program is âa first-of-its-kind program within the bridal industry,â the Memphis-based company said in a Monday (Feb. 26) press release. It is designed to let retailers make sure they have the stock they need while staving off issues caused by fluctuating cash flow. âOur goal is to show our support for our retail partners in tangible ways,â Allure Bridals CEO Kelly Crum said in a news release
Interest rates are higher than theyâve been in more than 20 years after a historic run of rate hikes by the Fed to cool surging inflation.But the campaign of rate increases is probably over, Federal Reserve Chair Jerome Powell signaled on Wednesday. Whatâs more, Fed officials predict they will lower the benchmark federal funds rate by three-quarters of a percentage point next year, bringing it down from a 22-year high of 5.25% to 5.5% to a range of 4.5% to 4.75%.How should ordinary American investors respond?âYour finances are all tied in some way to interest rates, and the anticipation of lower interest rates could lead to a vastly different financial landscape than we are seeing today,â said Jordan Gilberti, a certified financial planner in Baltimore.The Federal Reserve campaign of rate increases is probably over, Fed Chair Jerome Powell announced on Wednesday.Interest rate cuts should mean lower rates on home, car purchasesIf the benchmark interest rate goes down next year, borrowing rates on new car and house purchases should also come down, allowing buyers to stretch their budget. Variable interest rates on credit cards and home equity lines should also come down, easing the burden of debt for borrowers.On the investment side, the news is more nuanced. Interest rates on âhigh-yieldâ savings and money market accounts should come down, making those investments less lucrative. Rates should also fall on shorter-term fixed-rate investments, including certificates of deposit and bonds, making them less attractive.Stock prices have already soared in response to the Fedâs rate-cut news. The Dow Jones Industrial Average reached record territory this week.Stocks could fly higher if the Fed actually begins cutting interest rates in the months to come
Accrue Savings, the merchant-embedded shopping experience that rewards consumers for saving, today announced it raised $25 million in a Series A fundi
If youâve planned a wedding or had the privilege of being a guest at one, youâre already aware of the substantial costs associated with such an event.The cost of weddings in the U.S. has been rising, transforming them into not only celebrations of love but also potential sources of financial strain. This trend has played a part in the accumulating debt among couples, as many resort to credit to fund their ideal weddings.The accumulation of debt comes hand in hand with the âdream wedding,â with couples today often envisioning elaborate and extravagant affairs.In 2022, the national average wedding expenditure surpassed $30,000, as reported by The Knot.A PYMNTS report highlights the growth of installment plans as a payment method among a range of shoppers. Regardless of their age or income, around 60% of consumers now occasionally make use of installment plans.Read more: 45% of Consumers Used Credit Card Installment Plans In Past YearIn August, PYMNTS reported that credit card balances had surged to $1 trillion, showcasing consumersâ growing reliance on this payment method.PYMNTS talked with Michael Hershfield, founder and CEO of Accrue, to explore how the Save Now, Buy Later (SNBL) solution, through its latest collaboration with Kleinfeld, enables brides to plan for their dream dresses without the weight of a hefty one-time expense.âBrides can spend a significant amount of money on weddings and we believe that offering this option is essential for families and brides at this stage in their lives,â Hershfield said.The underlying models of SNBL and BNPL are distinct. Hershfield pointed out that BNPL predominantly functions as a tool for optimizing the bottom of the sales funnel. Conversely, SNBL solutions like Accrue aim to operate as initiatives spanning from the upper to mid-funnel, with a primary focus on building customer loyalty
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Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$54.7M
Headquarters
New York City, New York
Founded
2021
Find jobs on Simplify and start your career today