The firm has helped members save upwards of $7 billion to date through retirement savings, investing, and rainy day fund planning.
The company has tripled its revenue and added new products like the Varo Advance personal credit advance announced in October last year.
The product lets users get small amounts of credit, starting from a feeless $20.
SBI Group, owner of SoftBank is investing into the mobile-first bank; SBI Group will also get a seat on Moven's board and the companies plan to form a joint venture in Japan; Moven is also splitting its business in two; one side is the software provider that powers digital banking software and the other is the neobank, MovenBank; Moven also announced that it is in the process of purchasing a US bank. Source
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