New York, the U.S.A-based provider of a digital bank, focused on serving queer people, Daylight, raised USD 15 million in recent funding. The company announced the fundraise on November 17, 2022. Anthemis Group led the financing for the firm. Meanwhile, CMFG Ventures, Kapor Capital, Citi Ventures, Gaingels, Mendoza Ventures, Digital Horizons, University Growth Fund, Socially Financed, Clocktower Ventures and Financial Venture Studio, and a private investor syndicate joined in the financing.
As a part of the deal, Vinay Singh, Managing Director at Anthemis Group, will serve on Daylight’s Board of Directors, along with Billie Simmons, Daylight Co-Founder and Chief Operating Officer.
Purpose of financing for Daylight
With the latest capital injection, the company intends to expand its services to support LGBTQ+ people looking to start and grow their families.
Daylight Money provides consumer financial and payment services to thousands of LGBTQ+ people. The company also intends to launch a new subscription service called Daylight Grow. It is an economic and family planning product explicitly designed for queer families.
What the company’s founders have to say
Billie Simmons, Co-Founder and Chief Operating Officer of Daylight, said, “Family creation is a major life event for queer people, and the challenges we face are increasingly more complex than those for non-LGBTQ people. Daylight Grow will help queer people navigate through the complex legal and financial challenges involved, making it faster and easier to start a family and unlocking critical intergenerational wealth for our community.”
In addition, Rob Curtis, Co-Founder and CEO of Daylight, said, “At Daylight, our mission has always been to break down the financial barriers that hold LGBTQ+ people back. This new funding allows us to build vital new services that will help put family building within reach for many. With LGBTQ+ marriage and parental rights again under siege, protecting equality is vital, but allowing discrimination toward LGBTQ+ people in the name of religious freedom reinforces our status as second-class citizens. In this post-Dobbs world, Daylight’s commitment to supporting queer families has never been more necessary.”
What the investor has to say
Vinay Singh, Managing Director at Anthemis Group, said, “We believe the future of banking is tailored financial products and services, delivered in the context of when and where they are needed most. We are excited to support Daylight as they do exactly that for the queer and trans community in a rapidly expanding family creation market that is urgently calling for better financial solutions.”
About the company
In 2020, Founders Billie Simmons, Paul Barnes-Hoggett, and Rob Curtis launched the company. Daylight is the first and only digital banking platform in the U.S. specifically designed for and by the LGBTQIA+ community.
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