Fierce has announced the launch of a “super app” that is said to deliver high-yield returns for its users as it exits stealth mode. The App is currently available on iOS, with Android coming soon. At the same time, Fierce has announced a $10 million Seed round. The funding included the participation of Pendrell, AP Capital, Wheelhouse Digital Studios, Space Whale Capital, and several angel investors.
Fierce was founded by CEO Rob Cornish, who was previously the CIO of the New York Stock Exchange, the CIO of the International Securities Exchange, and the CTO of Gemini Trust Company.
Fierce aims to provide customers with “best-in-class financial offerings” in a single location along with an FDIC-insured checking account that earns (currently) 4.25% as well as a no-fee debit card, so in effect, Feirce is a neobank. Of note, there is no lockup on the high-yield account.
The Fierce Rewards Credit Card will launch later this year with 1.5% cash back on all spending.
Cornish stated that they are “truly mission-driven in our effort to bring the best of Fintech to people,” adding that their goal is to help users increase their wealth.
Along with the high-yield cash account, Feirce also offers stocks, including fractional shares and ETFs. Educational information is available on the platform.
Fierce says it will soon add “regulated crypto trading.”
Customers may also generate a return from existing stock holdings by participating in Fully Paid Securities Lending (FPSL) where they can earn passive income by lending their stocks.
Fierce is also launching U.S.-based live 24/7 support via phone, email, or chat.
David Krell, Angel Investor and past Founder/Chairman of the International Securities Exchange. commented on the launch stating that Fierce is entering the market with a powerful solution that allows customers to take control of their finances.