Overview

Digit.co helps individuals save money and pay off debt automatically by connecting their credit cards and bank accounts to its platform. The service analyzes users' spending habits and transfers small amounts of money into a savings account without requiring active involvement from the user. This approach allows users to save for various goals, such as paying off bills or preparing for emergencies. Unlike many competitors, Digit operates on a subscription model, offering a free 30-day trial followed by a monthly fee for access to its tools. The company's goal is to enhance the financial health of its users by making saving and debt repayment easy and stress-free, while also building trust through continuous feedback and improvement.

Simplify's Take

What believers are saying

• AI-driven financial tools enhance Digit's automated savings and debt repayment features.
• Embedded finance allows Digit to expand its reach and user base.
• Financial wellness programs offer a new market for Digit's services as employee benefits.

What critics are saying

• Increased competition may erode Digit's market share in automated savings.
• 'Buy Now, Pay Later' services could reduce demand for Digit's debt tools.
• Consumer privacy regulations may impact Digit's ability to analyze spending habits.

What makes Digit unique

• Digit automates savings by analyzing user spending habits and transferring small amounts.
• The platform targets millennials and those lacking financial literacy for effortless saving.
• Digit's subscription model funds its advanced financial management technology and services.

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Funding

Total Funding

$64.5M

Below

Industry Average

Funded Over

5 Rounds

Notable Investors:

General Catalyst

Notable Investors:

General Catalyst

$213,000,000

Acquisition

Nov 2021

Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!

Acquisition Funding Comparison

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