LatamList – Origin, a fintech that helps employees of large companies to manage their financial lives, recently raised $12M (R$63M) in its Series A funding round, which was led by Felicis Ventures.
Research by PwC shows that in the US, financial planning is the biggest source of stress in the daily lives of employees.
Origin launched a tool for American companies to help their employees better manage their finances. As a “Gympass” of financial life, the startup’s platform is offered as a corporate benefit to employees of client companies at $6 per month per employee.
The idea is for Origin to know the habits, lifestyle and financial goals of workers so that it can give suggestions on how they should invest and save to achieve their goals. The solution mixes artificial intelligence with experts.
“The financial problem is too complex to have a 100% automated solution. Our goal is not to remove the human touch, but to save it for moments when it is really necessary,” said João de Paula, the co-founder of Origin.
It currently has 20 client companies and more than 2K users using its services today.
The value of Origin’s product became even more vital with the pandemic, which has made thousands of people lose their income and turn to their reserves.
The funding will be used to improve their current product and invest in new hires. Origin plans to scale in the US market acquiring tens of thousands of users on the platform by the end of the year.
“We are going to make financial planning something a little more democratic one day at a time,” said de Paula.
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