FinLocker LLC Asset Profile

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Year established

2014

Location

St. Louis MO US

Primary Industry

Financial Services

About

Established in 2014 by co-founders Barry Sandweiss, Peter Esparrago, and Tim Stern and based in Missouri, US, FinLocker, LLC provides personalized financial solutions through consumer-permission data and proprietary analytics. This platform assists users in managing their financial lives, improving credit health, and achieving mortgage readiness. In April 2024, FinLocker, LLC raised USD 15.65 million in Series B funding led by Radian. As of July 2024, the company is led by CEO Henry Cason. FinLocker provides a private-labeled financial fitness platform for FIs, such as mortgage lenders, credit unions, and banks. For financial institutions, the company offers a private-labelled platform that allows institutions to attract, grow, and retain customers interested in homeownership. The platform leverages consumer-permission data to personalize financial education and goal-setting. The platform streamlines the mortgage application process by facilitating secure data sharing between consumers and lenders. For consumers, FinLocker offers tools and resources to improve financial health, build credit, manage finances, and save for a down payment. The software provides credit monitoring, budgeting tools, and mortgage readiness assessments. Additionally, the secure storage for financial documents allows for sharing with lenders during the mortgage application process. The tool integrates with existing CRM and POS systems, enhancing customer acquisition and retention strategies for lenders. The company will use the April 2024 funding to enhance its business development initiatives, strengthen partnerships, and accelerate product development.

Current Investors

Cultivation Capital, Holton Capital Group, SixThirty

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Primary Industry

Financial Services

Sub Industries

Mortgage Banking, e-Financial, Consumer Finance, Accounting/Finance Software

Website

www.finlocker.com

Verticals

FinTech, InsureTech, Mobile Apps

Company Stage

Series B

Total Amount Raised

Subscriber access only

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