FinFit
FinFit is a financial technology company that provides a workplace financial wellness benefit platform combining emergency savings, credit access, personal loans, and financial education, delivered to U.S. employers and their employees through HR and payroll integrations.
- Company typePrivate
- Founded2008
- HeadquartersVirginia Beach, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What FinFit does
FinFit is a Virginia Beach-based financial technology company founded in 2008 by David Kilby that operates a financial wellness benefit platform delivered to U.S. employers. The platform is positioned as a voluntary employee benefit combining emergency savings, emergency credit, personal loans (issued through partner Celtic Bank), early wage access (WageNow), financial coaching, and educational content, unified under the SafetyNet platform architecture launched in January 2024. The company is privately held as FinFit Ops, LLC, holds NMLS ID 1263032 with lending and collection licenses across 40+ states, and maintains SOC 2 Type II certification.
The underlying technology is a cloud-based platform offering API integration and single sign-on with major HR and payroll systems including isolved, Paychex, ADP, Kronos, Paylocity, Paycor, Ultimate Software, PrismHR, and PeopleStrategy. The April 2023 merger with Salary Finance U.S. expanded the platform's reach to over 500,000 U.S. employers and over 10 million U.S. employees, with subsequent channel partnerships (notably isolved in August 2024, adding access to 7 million employees through the isolved ecosystem, and Sunny Day Fund in September 2024) extending distribution further. The product surface includes the SafetyNet core, FinFit Visa Prepaid Card, Ready University financial education, 20 interactive financial calculators, live coaching, student loan services, a rewards program, and the SECURE podcast.
The business model is freemium at the employee level (financial wellness program, educational content, financial assessment, and dashboard are free) with revenue generated primarily through loan products issued by Celtic Bank (transaction fees, revenue sharing, or referral economics) and potentially undisclosed subscription arrangements with employers despite the public 'no cost to employers' positioning. Go-to-market combines direct enterprise sales to HR decision-makers with a heavy channel partner motion through PEOs (Group Management Services, PrestigePEO), HR technology platforms, benefits brokers, and payroll providers. The company has raised approximately $50M in equity historically (including $16M from Bison Capital Partners in December 2016 and a $7M Series B in July 2019) plus a $35M senior credit facility from Ares Management in March 2018, and was working toward a $15-20M raise with KBW in 2020.
FinFit firmographics
Firmographics- Name
- FinFit
- Legal name
- FinFit Ops, LLC
- Website
- https://finfit.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- FinFit is a financial technology company that provides a workplace financial wellness benefit platform combining emergency savings, credit access, personal loans, and financial education, delivered to U.S. employers and their employees through HR and payroll integrations.
- Ownership category
- akta.pro rank
FinFit industry classification
Industry- Product category
- Employee Financial Wellness
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- Expense Tracking & Financial Dashboards (FSAGADAB)
- akta.pro secondary industries
- Debt Management & Paydown (Student Loans, Credit Cards) (FSAGADAD), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Net Worth & Personal Balance Sheet Tracking (FSAGADAF), Retirement Planning & Long-Term Financial Planning Tools (FSAGADAI)
Keywords
Where FinFit is headquartered
LocationHeadquarters
- HQ city
- Virginia Beach
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
FinFit business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Supply Chain
Revenue model
- Employer Subscription / Platform Fees: FinFit is offered to employers as a voluntary employee benefit. The platform is described as having no cost to employers. Revenue likely comes from subscription fees paid by employers providing the benefit to employees, or through revenue sharing arrangements.
- Loan Products via Celtic Bank: Loans are issued by Celtic Bank. FinFit provides the platform and serves as the financial wellness benefit while Celtic Bank handles lending. Revenue may come from referral fees, revenue sharing, or interest income passed through.
- Financial Wellness Program (Free Tier): FinFit's Financial Wellness Program, which includes educational content, a financial assessment and a financial dashboard, are free to registered members. This drives engagement and conversion to paid products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free Financial Wellness Program for employees |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels8 records
FinFit product offering
Product offeringCore offering
FinFit provides an employee financial wellness platform, branded as the SafetyNet platform, that bundles emergency savings accounts, early wage access (WageNow), personal loans originated through its partner bank Celtic Bank, a Visa prepaid card, student loan services, financial coaching, financial education (Ready University), and a rewards program. The platform is delivered at no cost to employers and is monetized through interest and fees on the financial products used by participating employees.
Product overview
FinFit is a comprehensive financial wellness platform delivered as a unified platform-plus-modules architecture. The core SafetyNet Platform serves as the central hub, combining Emergency Savings (automated payroll deduction savings), Emergency Credit (on-demand credit access), and Personal Loans (debt consolidation) into a single employee benefit. The platform integrates with various HR and payroll systems including isolved, Paychex, ADP, and PrismHR to deliver benefits through employer portals. Add-on modules include WageNow early wage access, the FinFit Visa Prepaid Card, Ready University financial education, 20 interactive calculators, live financial coaching, student loan services, the FinFit Rewards Program, and the SECURE podcast. All services are offered to employers at no cost, with revenue generated through loan interest and fee-based financial solutions.
Differentiator
Problem solved
Functional benefit
Brands
- SECURE: A podcast presented by FinFit focusing on financial wellness topics, featuring interviews with industry experts on topics including SECURE 2.0 Act, employee financial wellness, debt management, and women's financial stability.
Products and services
- SafetyNet Platform Integrated employee financial wellness platform provided at no cost to employers; bundles savings, credit, wage access, education, coaching, and rewards for employees.
- WageNow Early wage access product that lets employees draw earned wages before the regular payday.
- Emergency Savings Savings account offering for employees to build emergency funds through the SafetyNet platform.
- Emergency Credit / Personal Loan Personal loan product originated through partner bank Celtic Bank, providing employees with emergency credit.
- Visa Prepaid Card Reloadable prepaid Visa card issued to employees as part of the financial wellness benefits package.
- Ready University Financial education program offering courses and learning content to improve employee financial literacy.
- Financial Coaching One-on-one financial coaching services delivered to employees through the platform.
- Student Loan Services Student loan support, refinancing, and consolidation services offered to employees as a workplace benefit.
- Rewards Program Rewards program that incentivizes positive financial behaviors by employees using the FinFit platform.
- Financial Calculators Online financial calculators for budgeting, loan, and savings scenarios available to employees on the platform.
Quantifiable outcome
- 28% improvement in employee retention
- +7 more outcomes
Companies that use FinFit
Customer profileNamed customers13 records
Segments4 records
Ideal customer profiles2 records
FinFit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature8 records
FinFit partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, flagship and minor.
- Sunny Day FundcorePartnership to add emergency savings accounts to FinFit's financial wellness platform. Makes workplace emergency savings accounts available through the FinFit platform.
- isolvedcorePartnership with the most-trusted HCM technology leader to expand the network of Americans FinFit helps struggling to make ends meet financially. Partnership brings financial wellness access to 7 million employees through isolved's platform.
- TrueNorth CompaniescoreTrueNorth Companies, a risk management and insurance brokerage firm headquartered in Cedar Rapids, Iowa, launched Center for Financial Well-Being in partnership with FinFit.
- Salary Finance U.S.flagshipMerger creating America's leading workplace financial wellness platform. The merged organization services over 500,000 U.S. employers and over 10 million U.S. employees in employers ranging in size from SMB to enterprise.
- Optima HealthcorePartnership to financially stabilize and fairly bank vulnerable communities. Optima Health provides health insurance to more than 560,000 individuals and is expanding community health programs to address financial wellness.
- PeopleStrategy, Inc.coreFull-service brokerage and provider of comprehensive, cloud-based HR solutions. FinFit's platform available to more than 200 PeopleStrategy clients offering complete access to essential financial tools and resources. Seamless integration requires no administrative overhead.
- PrestigePEOminorEmployee benefits firm partnership to offer clients and their employees access to a comprehensive suite of financial wellness services.
- Oasis (Paychex Company)coreFinFit now available to customers of Oasis, a Paychex company, expanding distribution through the Paychex partner ecosystem.
- Virgin PulseminorJoined the Virgin Pulse Partner Ecosystem to change lives and businesses for good. FinFit's financial wellness integrated with Virgin Pulse's employee health and wellness platform.
- ExecupayminorLeading HR and Payroll Services Provider selected FinFit's holistic financial wellness platform for distribution to their employer clients.
- Group Management Services, Inc. (GMS)coreProfessional Employer Organization (PEO) servicing companies nationwide. FinFit's platform now available to more than 25,000 GMS employees. GMS utilizes PrismHR software fully integrated with FinFit platform.
- Celtic BankflagshipFinancing partner for loan products. Celtic Bank is an FDIC member bank that issues loans through the FinFit platform. This is the core lending partnership enabling emergency credit and personal loan products.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
FinFit competitors and assessment
Company assessmentDirect peers
- Salary Finance: Salary Finance is a UK-founded workplace financial wellness platform offering salary-linked savings, loans, and financial education. Its US operations merged with FinFit in April 2023, making it the closest direct peer and effectively the same platform pre-merger.
- Brightside Financial: Brightside is an employer-sponsored financial wellness platform offering debt payoff, savings, and financial coaching. Directly competes with FinFit for the same HR/benefits buyer and paycheck-to-paycheck employee segment.
- Even: Even provides earned wage access, budgeting, and financial planning tools through employer partnerships (notably Walmart). Overlaps significantly with FinFit's WageNow and financial coaching offerings for hourly workforces.
- DailyPay: DailyPay is a leading earned wage access provider serving enterprise employers with on-demand pay. Competes head-to-head with FinFit's WageNow for HR buyers seeking EWA as an employee benefit.
- Payactiv: Payactiv offers earned wage access and bill pay through employer partnerships. Its SaaS-model approach to financial wellness competes with FinFit's similar employer-paid model.
- Earnin: Earnin provides consumer-direct earned wage access and cash-out tools. While consumer-led rather than employer-led, it competes for the same paycheck-to-paycheck demographic FinFit serves.
- Dave: Dave is a banking and EWA fintech offering early wage access, budgeting, and credit products (including a forthcoming secured credit card). Its employer-channel and small-dollar credit products overlap with FinFit's WageNow and emergency credit offerings.
Broad incumbents
- MoneyLion: MoneyLion is a consumer fintech platform offering banking, lending, investing, and earned wage access. While broader in scope than FinFit, its RoarMoney, Instacash (EWA), and credit products overlap with FinFit's product set.
- Chime: Chime is a large consumer digital bank with fee-free checking, early direct deposit (functionally similar to EWA), and secured credit cards. While primarily consumer-direct, its employer partnerships (e.g., with Walmart) compete for FinFit's benefits-buyer wallet.
Emerging players
- Sunny Day Fund: Sunny Day Fund is a smaller, focused emergency savings platform that partnered with FinFit in September 2024. As an emerging player in a single PFM vertical, it competes at the sub-component level with FinFit's broader SafetyNet platform.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
FinFit social profiles
Digital presenceFinFit compliance and trust
Trust signalCompliance1 record
FinFit financial estimates
Financial estimateRevenue estimate
Valuation estimate
FinFit leadership team
Management profileNumber of profiles
Profiles1 record
FinFit subsidiaries and ownership
Company hierarchySubsidiaries1 record
FinFit funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FinFit M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FinFit
What does FinFit do?
FinFit provides an employee financial wellness platform, branded as the SafetyNet platform, that bundles emergency savings accounts, early wage access (WageNow), personal loans originated through its partner bank Celtic Bank, a Visa prepaid card, student loan services, financial coaching, financial education (Ready University), and a rewards program. The platform is delivered at no cost to employers and is monetized through interest and fees on the financial products used by participating employees.
Is FinFit a public or private company?
FinFit is a private company. It is classified as venture growth investor backed and is currently operating.
When was FinFit founded?
FinFit was founded in 2008. It employs 51 to 100 people.
Where is FinFit based?
FinFit is headquartered in Virginia Beach, United States, in the North America region.
How does FinFit make money?
Three revenue lines are on record. Employer Subscription / Platform Fees are the primary driver. The others are loan Products via Celtic Bank and financial Wellness Program (Free Tier).
Who are FinFit's main competitors?
Direct peers on record are Salary Finance, Brightside Financial, Even, DailyPay, Payactiv, Earnin and Dave. Broad incumbents are MoneyLion and Chime. Sunny Day Fund is listed as an emerging player.
Does FinFit have an API?
Yes. FinFit offers API integration capabilities enabling connectivity with employer HR systems, payroll platforms, and benefits administration software. Single sign-on (SSO) capabilities are also available for seamless authentication integration.
What industry is FinFit in?
FinFit's product category is Employee Financial Wellness. Its primary akta.pro industry code is FSAGADAB, Expense Tracking & Financial Dashboards, with a secondary code of FSAGADAD, Debt Management & Paydown (Student Loans, Credit Cards). Its NAICS code is 522180 and its SIC code is 6141.