Naples Technology Ventures led successful Capital Raise to Fuel Company’s Growth
Stamford, CT, May 20, 2022 — Rellevate, Inc., a digital banking & payment services provider today announced that it closed a Series Seed Preferred $4 million round led by Naples Technology Ventures (NTV). Additional investors included Connecticut Innovations, IAG Capital Partners, Cherrystone Angel Group, Texas HALO Fund and Tamiami Angel Fund, among others. As a fintech company dedicated to empowering consumers through leading-edge financial and payment services, Rellevate will use funds to focus on market expansion and growth.
“Rellevate has built a leading-edge digital banking, money movement and payments platform aimed at American workers that need it most. We are excited to work with the experienced Rellevate management team as they grow, said Mike Abbaei, Co-Founder & Managing Partner of Naples Technology Ventures. “We share the Company’s passion for helping Americans succeed by giving them access to valuable financial tools at affordable, fair prices to bypass often onerous channels they face every day, such as check cashers, payday lenders, money transfer providers, traditional banks and the fees often associated with such legacy providers.”
Adam Schneider, Advisor at Naples Technology Ventures, will be joining Rellevate’s board. Mr. Schneider is focused on the intersection of Digital Technology with Financial Markets and will bring years of leadership and expertise in product management, technical / infrastructure implementation, and growth strategies to Rellevate.
“At Rellevate, we have built a leading digital banking and payments platform and now it is time to scale it. Rellevate leverages our team’s collective experience at leading financial services, money movement and consumer product companies to deliver financial services to empower American consumers to access, move, and use their money-anytime,” said Stewart Stockdale, Co-Founder, Chairman & CEO of Rellevate. “With NTV’s investment / leadership and our existing and new investors we have a seasoned investor group that can provide not only capital, but deep industry knowledge, introductions and functional support to expedite growth.”
Through Rellevate’s Digital Account, employers can provide their employees access to a Financial Wellness benefit, featuring Pay Any-Day, to access earned wages between payroll cycles, enhancing the employer’s competitive standing as they strive to acquire and retain loyal employees. Rellevate’s product suite includes: The Rellevate App / Digital Account with Earnings Credit, a Visa Debit Card, ATM Access, Pay Any-Day, Bill Pay, Send and Instant Send Money.
About Naples Technology Ventures
Naples Technology Ventures is a Venture Capital Firm that invests in early-stage technology and services companies. NTV looks for companies that show strong value-add and demonstrate being in emergent and/or expanding markets with both Software-As-A-Service (SaaS) and/or a Services-based model. NTV focuses on investments in Series Seed and Series A+ rounds.
Rellevate, Inc. is a digital fintech company dedicated to empowering consumers through innovative financial and payment services that allow them to access, move and use their money – anytime. The company’s suite of financial services, offered primarily via employers, include the Pay Any-Day Product, a Digital Account with a Visa Debit Card, Pay Any-Day, Bill Pay, & Money Send, and also Gift and Incentive Cards. For more information on Rellevate and for Companies interested in offering Rellevate’s digital financial services to their employees, visit www.rellevate.com or contact Rellevate at [email protected]