Penny Finance

What Penny Finance does

Penny Finance is a digital financial planning and education platform that targets consumers who are building financial stability rather than managing existing wealth. Its offering is built around three interconnected products: an interactive Money Quiz for personalized financial assessment, Masterclasses covering topics such as debt payoff, investing, and retirement planning, and a Financial Planning Engine that supports spending awareness, savings behavior tracking, and retirement planning. The platform integrates with Plaid for bank account data aggregation and with Stripe for payment processing, and holds SOC 2 Type 2 certification, signaling compliance readiness for institutional procurement.

The company operates a dual go-to-market model. Its primary revenue stream is B2B licensing to credit unions and community banks, which embed Penny Finance's tools within their digital member experiences to drive engagement, retention, and financial literacy. A secondary direct-to-consumer channel runs through penny-finance.com, where US-based users aged 18 and older can take the Money Quiz, register for masterclasses, and sign up for the platform. Pricing is not publicly disclosed, and the model is consistent with subscription or per-seat institutional licensing rather than consumer-facing fees.

Penny Finance was founded around 2020 by Crissi Cole, who serves as Founder and CEO. The company raised two undisclosed funding rounds in January 2023 and August 2024 from Curql, Kapor Capital, TBD Angels, Techstars, and Techstars Future of Longevity, while maintaining a sub-10-person team. In February 2026, Penny Finance was acquired by Array, an embeddable financial technology platform, and announced as part of a three-deal bundle alongside Chimney and EarnUp intended to add modular financial wellness capabilities to Array's credit, identity, and privacy offerings for fintech and financial institution partners.

Name

Penny Finance

Legal name

Penny Finance Inc.

Website

https://penny-finance.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

1–10 employees

Short description

Penny Finance is a digital financial planning platform that provides financial education, spending and savings tracking tools, and a money quiz, primarily licensing its offering to US credit unions and community banks for member-facing financial wellness.

Ownership category

akta.pro rank

Product category

Personal Financial Management Software

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180), Credit Bureaus (561450)

SIC

Finance Services (6199), Personal Credit Institutions (6141), Investment Advice (6282)

akta.pro primary industry

Budgeting & Cash-Flow Management (FSAGADAA)

akta.pro secondary industries

Debt Management & Paydown (Student Loans, Credit Cards) (FSAGADAD), Credit Score Monitoring & Credit Building (FSAGADAE), Expense Tracking & Financial Dashboards (FSAGADAB)

Keywords

• Personal financial planning
• Financial education platform
• Money management tools
• Embedded financial wellness
• Credit union software

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. B2B Licensing to Financial Institutions: Penny Finance provides its financial education and money management platform to credit unions and community banks, likely through subscription or licensing arrangements. Financial institutions then offer the platform to their members to boost engagement and retention.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Penny Finance provides an online financial planning and education platform that helps users pay off debt, start investing, and plan for retirement. Its core offerings include a Money Quiz for personalized financial assessment, Financial Masterclasses on debt, investing, and retirement topics, and a financial planning engine offering spending awareness and savings behavior tools. The platform is primarily licensed to credit unions and community banks to deliver to their members, and is also available directly to US consumers aged 18+ via penny-finance.com.

Product overview

Penny Finance is a consumer-focused financial education and money management platform designed to help users pay off debt, start investing, and retire with wealth. The platform operates as a unified product offering multiple interconnected tools including a Money Quiz for personalized financial assessment, Masterclasses for financial education, and a Financial Planning Engine for spending awareness and savings behavior tracking. The platform was acquired by Array in February 2026 as part of Array's strategy to expand its financial wellness offerings for financial institution partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Money Quiz Interactive online quiz that assesses a user's financial situation and delivers personalized money advice and recommendations. Targeted at US consumers 18+ and positioned as the top-of-funnel entry point on Penny Finance's website.
• Financial Masterclasses/Events Educational events and classes that provide users with knowledge about investing, debt payoff, and retirement planning to support their wealth-building journey.
• Financial Planning Engine Online financial planning platform that provides spending awareness, savings behavior tracking, and retirement planning capabilities. Licensed to credit unions and community banks to deliver to their members, with US consumer sign-up also available directly through penny-finance.com.

Quantifiable outcome

• Financial institutions can deliver more holistic, consumer-first financial experiences within existing digital products

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Two partnerships are on record, tiered supporting.

• StripesupportingTechnology or IntegrationStripe is used by Penny Finance to collect and process credit card and billing information for customers who sign up for the platform. This is a standard payment processing integration rather than a strategic partnership.
• PlaidsupportingTechnology or IntegrationPlaid is used by Penny Finance to collect bank account information from users who link their accounts. This integration enables the financial planning and spending tracking capabilities of the platform.

Scale indicators2 records

Recent moves5 records

Expansion highlights2 records

Direct peers

• Zogo Finance: Zogo offers a financial-education rewards app that is also embedded into credit unions and banks via white-label — the closest comparable to Penny's B2B2C financial-wellness-for-FIs model.
• Greenlight: Greenlight delivers financial-literacy and money-management tools for families, frequently distributed through credit unions and employers — overlapping with Penny's education-and-planning focus for underserved users.
• MoneyLion: MoneyLion is a consumer financial-wellness platform bundling banking, lending, investing and educational content for non-mass-affluent users — closely mirroring Penny's pre-wealth target segment.
• Albert: Albert combines automated budgeting, savings, and financial-guidance features aimed at everyday Americans — directly competitive with Penny's spending-awareness, savings-behavior, and planning toolset.
• Dave: Dave is a personal finance and banking app targeting lower-balance consumers with budgeting, advances, and side-income tools — comparable to Penny's underbanked-customer thesis and educational content.

Broad incumbents

• MX Technologies: MX provides data-aggregation, PFM, and financial wellness infrastructure used by many of the same FIs Penny targets — an established incumbent offering overlapping capabilities at a much broader scale.
• Yodlee (Envestnet): Yodlee powers PFM and data-aggregation capabilities embedded into thousands of FI apps — overlapping with Penny's planning engine but at vastly greater enterprise scale and incumbency.

Emerging players

• Prism Money: Prism offers a bill-aggregation and personal-finance app; its scope is narrower than Penny's, but its PFM positioning makes it a partial competitor for credit-union and direct-consumer mindshare.
• Current: Current is a mobile-first neobank targeting underbanked consumers with built-in budgeting and saving features — a partial substitute for Penny's consumer offering, particularly for FI partners seeking one-stop solutions.

Others

• Plaid: Plaid is the data-connectivity provider Penny uses to power spending and savings tools. It is an enabling infrastructure layer rather than a competitor, but increasingly ships its own consumer-facing financial-health products that could overlap with Penny.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Penny Finance