Different demographics often have different banking needs. So it’s no surprise that we have seen a flurry of financial technology startups offering banking services catered to certain populations based on factors such as age and ethnicity.
For example, numerous fintech startups cater to younger users – from Greenlight to Step to Current and now, Acorns.
But far less common are fintechs dedicated to serving older members of our society. Enter Charlie, a new startup offering banking services for the 62+ community, which launched today with $7.5 million in funding. The company’s goal, according to co-founder and CEO Kevin Nazemi, is to help retirees and soon-to-be-retirees “make the most of their limited resources.”
Features include faster access to their Social Security check, 3% earnings on balances and no monthly fees or minimums. Users can al...
