Ness

Ness

Credit card rewards for healthy purchases

About Ness

Simplify's Rating
Why Ness is rated
C
Rated C on Competitive Edge
Rated B on Growth Potential
Rated D+ on Rating Differentiation

Industries

Fintech

Consumer Goods

Company Size

51-200

Company Stage

Seed

Total Funding

$15.1M

Headquarters

New York City, New York

Founded

2020

Overview

Ness offers a credit card designed to promote and reward healthy spending habits. Users earn points for purchases related to health and wellness, which can be redeemed for products and services in a dedicated wellness marketplace. The card also provides exclusive perks from well-known health brands, encouraging users to make healthier choices. Unlike traditional credit cards, Ness focuses specifically on health-related rewards, making it distinct in the financial services market. The goal of Ness is to motivate individuals to prioritize their health through financial incentives.

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Simplify's Take

What believers are saying

  • Growing wellness market offers Ness a $1.5 trillion opportunity.
  • Successful $15.5M seed funding indicates strong investor confidence in Ness.
  • Increasing consumer focus on health boosts Ness's market potential.

What critics are saying

  • Competition from established credit card companies may reduce Ness's market share.
  • Consumer skepticism towards fintech could hinder Ness's user acquisition.
  • Economic downturns might decrease spending on wellness, affecting Ness's revenue.

What makes Ness unique

  • Ness offers a unique credit card focused on health and wellness rewards.
  • Partnerships with brands like Sweetgreen enhance Ness's appeal to health-conscious consumers.
  • Acquisition of WellSet Network broadens Ness's wellness services and expert offerings.

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Funding

Total Funding

$15.1M

Above

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$15.5M
Ness

Benefits

Generous PTO

Paid parental leave

Medical, dental, & vision

Self-care benefits

401(k)

Professional development program

Semi-annual Nessfest (our version of summits)

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
Forbes
Jun 21st, 2023
Meet Ness, The Company That Rewards You For Being Healthy

The first Ness credit-card allowing members to redeem points with health and wellness merchants and . [+] experts.Ness Card. Feeling good has become a market, one that is estimated to be worth more than $1.5 trillion. With individuals placing more attention to their mental and physical health than ever before, the self-care industry is expanding by the minute. And while new wellness businesses launch as fitness, meditation, or supplements brands, to name a few, Derek Flanzraich decided he would approach health and wellness from a different angle. In March, the founder of Greatist, a successful health media startup that he later sold to Healthline in 2019, officially launched Ness, the first health-focused credit card company

PYMNTS
Mar 22nd, 2023
Ness Card Looks To Reward Consumers For Living Healthy

Credit card firm Ness has debuted an offering designed to reward users for healthy living. The Ness Card, announced Wednesday (March 22), is designed to “incentivize living healthy” by offering consumers rewards and benefits with a number of health and wellness brands, including Sweetgreen, Seed Health, Exhale Spa and Glamsquad. “It’s clear health and wellness is the new lifestyle identity of this generation,” Ness Founder and CEO Derek Flanzraich said in a news release. “With the first Ness Card, we reward and incentivize doing healthy things with more healthy things.”

Finsmes
May 11th, 2022
Ness Raises $15.5M In Seed Funding

Ness, a New York-based fintech company building credit cards limiting the cost of wellcare, raised $15.5M in Seed funding. The round was led by Will Ventures with participation from Core Innovation Capital, Accomplice, Digitalis, GFC, Portage Ventures, Refactor Capital, RiverPark, and Atypical. The company intends to use the funds to grow the product, team, userbase, and commitment to credit and compliance. [] The post Ness Raises $15.5M in Seed Funding appeared first on FinSMEs.

PR Newswire
May 10th, 2022
Ness Raises $15.5M In Seed Funding To Make Wellcare More Affordable, Launches Rewards App &Amp; Acquires Wellset Practitioner Network

App rewards users with points they can redeem on wellness products, services, experiences, and experts. NEW YORK, May 10, 2022 /PRNewswire/ -- Ness, a fintech company building credit cards to reduce the cost of wellcare, today announced the official launch of its first product, the Ness...

PR Newswire
May 10th, 2022
Ness Raises $15.5M in Seed Funding To Make Wellcare More Affordable, Launches Rewards App & Acquires WellSet Practitioner Network

/PRNewswire/ -- Ness, a fintech company building credit cards to reduce the cost of wellcare, today announced the official launch of its first product, the...

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