Fruitful Announces $33M Total in Equity Financing
Gunderson Dettmer represented client Fruitful, a New York-based financing wellness app, in its $33 million aggregate equity financing, including an $8 million seed round led by Emigrant Bank and a $25 million Series A financing led by 8VC. Fruitful’s subscription-based platform, which is currently in live beta mode, provides its customers with a certified, easily accessible financial planner that does not have passive management fees or sell third-party products or services.
In the announcement of the de-stealth and equity financing, CEO and co-founder of Fruitful Josh McManus said “We’re bringing the price point down to increase accessibility. We feel like there is a large number of people trapped in what I describe as the messy middle, which is folks who are making a high income, but have not yet built up a nest egg or net worth that’s high enough to warrant private client banking. We also have a lot of concerns about some of the traditional financial guidance because a lot of it is associated with a product or service.”
The Gunderson deal team was led by Randall Clark and included Saarah Woodby, Andrew Wilson, Alec Saccogna and Tom Barron