Goalsetter, a platform focused on investing, saving, wealth-building, and financial education, has completed a $9.6 million Series A extension funding round. This round was spearheaded by Edward Jones and MassMutual through their MM Catalyst Fund. Additional participation came from existing investors Fiserv, Webster Bank, Seae Ventures, Astia Fund, and Partnership Fund for New York City, along with new investors Reseda Group and InTouchCU.
Goalsetter distinguishes itself in the financial education market with its family-centric and youth-focused offerings. Innovative features such as “Learn to Earn,” which allows parents to freeze their children’s debit cards if they haven’t completed their weekly financial quizzes, set Goalsetter apart in the teen banking sector.
Growth and New Partnerships
Following its previous funding in January 2021, Goalsetter has prioritized partnerships with companies and financial institutions dedicated to improving access to financial literacy and wealth-building resources. The new Series A extension funding will enable Goalsetter to enhance existing applications and develop new B2B relationships, paving the way for a future Series B funding round.
Goalsetter’s platform, which incorporates age-appropriate financial education tools, has formed successful collaborations with numerous major financial services companies. These include Fiserv, Trustage, and CUNA Strategic Services, as well as significant institutions like MSU Federal Credit Union, InTouch CU, Solutions Bank, and Liberty Bank.
Advancing Financial Literacy and Inclusion
This new funding will allow Goalsetter to establish additional partnerships with banks and credit unions, support the launch of live product implementations, and integrate with core processors. By doing so, Goalsetter’s acclaimed educational, savings, spending, and investment platform will become accessible on various technology platforms, expanding its reach.
Goalsetter has also teamed up with Envestnet, the largest turnkey asset management program (TAMP) in the U.S., to help financial advisors broaden their offerings and strengthen their relationships with younger clients. The new funds will support this partnership, bringing Goalsetter’s family finance platform to more wealth-management firms and families across the country.
In addition, Goalsetter has entered into agreements with several educational institutions and organizations such as the Edward Jones Foundation, Nike, UBS, and Deutsche Bank to offer financial education through the Goalsetter Classroom initiative. For the 2024-2025 academic year, Goalsetter aims to partner with more school systems, continuing its expansion in the education sector.
Key Quotes
“Goalsetter continues to redefine financial education and inclusion across America with this new Series A extension. With this funding, we can broaden our reach, strengthen partnerships with credit unions, banks, and wealth management firms, and promote financial well-being for millions of young Americans,” said Tanya Van Court, founder and CEO of Goalsetter. “We are building the foundation for a more equitable and financially informed future for everyone.”
“By assisting families from diverse backgrounds in increasing savings and developing smart spending habits, Goalsetter has become a leader in this field,” said Liz Roberts, Head of Impact Investing at MassMutual. “We at MassMutual understand the importance of supporting all Americans in achieving financial well-being, and we are excited to support Goalsetter as it works to close the nation’s financial literacy gap.”