B9 raises $1.7m for fintech app targeting immigrants

B9 raises $1.7m for fintech app targeting immigrants

Risk Disclaimer >>
Ad disclosure Fintech-Insight stands firm in its mission to facilitate sound financial decisions for you. We forge alliances with specialists to provide the latest in news and facts. Engagement with designated links, sponsored entries, products and/or services, leading transfers to brokers, or promotional content might entail financial recompense for us. We pledge to protect our users from any negative repercussions arising from utilizing our site. Be informed that no content hosted here should be interpreted as authoritative in legal, tax, investment, financial matters or any expert counsel; it is meant for informational purposes exclusively. Should there be any concerns, securing the guidance of an independent financial consultant is recommended.

B9, a US startup building a financial app for immigrants that provides interest-free payroll advances, has raised $1.7 million in an ongoing pre-seed funding round.

B9 is designed to provide an alternative for millions of unbanked people, often first or second-generation immigrants, who are targeted by predatory lenders.

The firm is offering users no-interest (0% APR) pay advances of up to 15 days, a free virtual Visa debit card, and money transfer services within the US and around the world. Users pay a $4.99 monthly subscription.

CEO Sergei Terentyev, CEO, B9, says: “Immigrant communities and other marginalized groups are invisible to traditional banks.

“They are hardworking people who deserve a full service banking option that fits the way they earn and spend. The response to B9 has been overwhelming, with hundreds of thousands of people joining our waiting list and a 15% conversion rate.”

Risk Disclaimer

Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.

Leave a Reply