EarlyBird announced it has secured $4M in seed funding.
The firm’s investment round has been led by Alexis Ohanian’s Seven Seven Six, followed by contributions from Gemini’s Frontier Fund along with Rarebreed Ventures, Fiat Ventures, Network Ventures, NBA Player Thaddeus Young’s Reform Ventures, and Alex Lieberman, executive chair and co-founder at Morning Brew, among several others.
Less than a year ago, EarlyBird introduced its mobile app, offering families an intuitive and emotional approach to “investing in the financial futures of their children.” In minutes, parents are able to set up an investment account, choose from a range of diversified portfolio options, and begin investing on behalf of their child.
As mentioned in the announcement shared with CI, EarlyBird’s approach to wealth creation for the next generation “is collaborative.” The platform aims to “empower a child’s broader network of family, friends, and loved ones to send gifted capital accompanied by timeless video and photo memories for birthdays, holidays, or even losing a tooth that the child then uses to learn about investing and building real wealth.”
With the 2021 holiday shopping season “rife with historic supply chain issues and product shortages, EarlyBird offers a timely, purposeful, and personal digital gifting solution,” the update noted.
Jordan Wexler, CEO and Co-Founder of EarlyBird, stated:
“EarlyBird started with the vision to create an accessible way for all families to begin building wealth for their children, and to do so with the support, love, and contributions of their broader communities. Since our launch, we’ve seen incredible growth, adoption, and excitement from families with a wide range of financial knowledge and backgrounds. Seven Seven Six and all of our new partners recognize the importance of financial access and approachability in investing, and we’re thrilled to have them on board as we continue to take flight.”
Alexis Ohanian, General Partner and Co-Founder of Seven Seven Six, was “compelled by EarlyBird’s long-term mission of democratizing accessibility to generational wealth and finding creative ways to invest in the next generation of change makers.”
Ohanian remarked:
“I got a savings bond from my great aunt when I was born in 1983. No one is giving savings bonds anymore – we need an onramp to modern wealth creation for the next generation. We believe EarlyBird’s vision – sitting at the intersection of community, love and capital – aligns well with how all the ‘rules of investing’ are currently being rewritten.”
With this capital injection, EarlyBird should continue building out its community-first approach to childhood investing; “expand its engineering, product, marketing and operations teams; and introduce the ability for users to invest and gift assets beyond stocks and ETFs, including cryptocurrencies.”
Caleb Frankel, EarlyBird COO, said:
“Investing tools today are only available to families with investing knowledge and experience building generational wealth. We have a bold vision to make investing available for everybody. We are driving wealth creation not within the system of today, but for the world of tomorrow.”