Digital bank Onyx Private announced today $4.1 million in new funding to provide private banking and investment services specifically tailored to high earning Millennials and Gen Zers.
Village Global, Y Combinator, Global Founders Capital, One Way Ventures, 186 Ventures and Olive Tree Capital participated in the investment.
In partnership with Piermont Bank, Onyx Private offers digital banking services, including checking accounts, a debit card and cash back on payments and purchases. On the investment side, the fintech develops investment portfolios from high-yield, fixed-income portfolios, like cash-sweep accounts and U.S. treasury bills, with $100 minimums and low fees.
There is an application process to join Onyx Private and customers can choose between a free plan or a premium plan that is $50 per month or $40 per month if you pay the membership in one payment.
Investment se...
