Ribbit Capital, General Catalyst back to help Digit hit $22.5m Series B

Personal savings helper Digit has picked up $22.5m of Series B investment from existing backers including General Catalyst and Ribbit Capital.

The news comes just over 12 months after Digit grabbed $11.3m of Series A capital led by General Catalyst, which also included capital from Baseline Ventures and Google Ventures.

Digit works by checking a user’s spending habits every few days, and removes a few dollars from their checking account if it calculates they can afford it.

That money can be easily withdrawn at any time with no fees, but is designed to help people save cash which would otherwise be sitting in their accounts or frittered away between paychecks.

General Catalyst has previously backed Fintech businesses Kensho, Circle, Payable and AI Exchange.

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