SAN FRANCISCO and CHICAGO, Feb. 16, 2022 /PRNewswire/ -- Today, Unifimoney Inc., a turnkey digital wealth management platform for Community Banks and Credit Unions, announced a strategic investment from Shop Your Way®, a leading loyalty and credit card platform.
With millions of members, who spend more than $9 billion and earn $50 million of rewards annually, Shop Your Way (SYW) brings substantial economies of scale, infrastructure and resources to Unifimoney's platform. Moreover, with the latest round of growth capital, Unifimoney will rapidly and materially innovate their service offering, further extending Unifimoney's turnkey digital wealth management solution for Community Banks and Credit Unions.
"The strategic relationship with Shop Your Way will help fuel the next wave of innovation while extending our services to more Community Banks and Credit Unions. This is huge for our Banking partners, giving their customers access to a broader range of services as part of a compelling and unique one-stop shop for digital wealth management," said Ben Soppitt, Co-Founder and CEO of Unifimoney.
As part of the investment, the two companies plan to collaborate to create a suite of new services for Shop Your Way members and Unifimoney customers – starting with rewards integration that will allow Shop Your Way members to redeem their points to purchase investable assets, including over 70 cryptocurrencies, thousands of equities, exchange-traded funds (ETFs) and precious metals.
"Investing in and collaborating with Unifimoney accelerates our mission to deliver value, choice, and convenience for both our Partners and our Members." said B.J. Naedele, President and Chief Commercial Officer of Shop Your Way. "We have a unique opportunity to serve our Members with the innovative Unifimoney wealth management solution, while also leveraging our leading loyalty and credit platforms to help drive material value to the Community Banks and Credit Unions operating where our members live, work, and play."
Unifimoney is a multi-asset turnkey digital wealth management platform that serves Community Banks and Credit Unions to enable them to offer compelling investment services to their customers. The Unifimoney platform today includes both passive and active investing in traditional equities and ETF's. Over 70 cryptocurrencies and precious metals including gold, silver and platinum. Unifimoney RIA, a wholly owned subsidiary of Unifimoney Inc. is a SEC registered RIA. Unifimoney is part of the ICBA 2022 ThinkTech Accelerator Program.
About Shop Your Way
Shop Your Way® ("SYW") is a high-growth FinTech and e-Commerce enablement platform that leverages a proprietary technology infrastructure to service some of the largest and most innovative brands in America. SYW powers multiple business and consumer services, including the SYW Mastercard and SYW Rewards, along with several mobile apps. With an expansive and growing Partner Network, SYW has established itself as a leading payments platform with a best-in-class transaction gateway, designed for scale.