Digital Bank HMBradley Raises $18.25 mln

Digital banking platform HMBradley announced on Tuesday (Nov. 24) that it has raised $18.25 million in a Series A funding round to accelerate its credit program.

The funding, which was led by Acrew Capital, will also be used to expand its customer offerings.

HMBradley, described as “a digital banking platform for savers,” rewards account holders based on how much of their deposits they save each month, paying up to 3 percent interest on savings.

“HMBradley’s 3 percent APY is not a gimmick. We stand behind it because it serves as strong encouragement for customers to practice the financial behaviors that set them up for success,” said Zach Bruhnke, co-founder and CEO of HMBradley, in the press release.

Read more: PYMNTS