Ant Money, founded by a serial fintech entrepreneur, has raised $20 million to make micro-investing even more accessible

Walter Cruttenden, a serial fintech entrepreneur, launched Acorns with his son, Jeff, in 2012 to assist low- and middle-income families in investing and saving correctly. The duo sought to make investing more accessible for the millions of people who have problems getting started or staying invested.

Then, in 2018, Walter launched a new business called Blast. With that venture, he sought to challenge traditional banking by providing gamers with individualized financial tools. To put it another way, Blast intended to provide a means for customers to save money while playing video games. 

Cruttenden’s latest fintech, Ant Money, has obtained $20 million in funding (a combination of previously unannounced seed and Series A money) and acquired Blast via a stock-for-stock merger as the year comes to a close.

Cruttenden and Mike Gleason established Ant Money, a micro-income firm, in March of 2020. Gleason, who previously created and sold Consumer Brands, had teamed up with Walter to launch Ant Transaction Machines, a data monetization startup. He is the CEO of Ant Money.

“In the process of building another company called Ant Transaction Machines and working with Blast, we realized that if we created a common platform that we could move faster in terms of our larger mission, which was helping people open their first investment account,” 

Mike Gleason

The Ant Money umbrella includes three apps: ATM, Blast, and Learn & Earn. The corporation claims that the move is not a merger. Each app will continue to exist and operate independently. The focus of Blast will remain on gaming. ATMs focus on allowing customers to make small amounts of money. The goal of Learn & Earn is to improve financial literacy. And all three are geared toward assisting people in establishing financial investing accounts.

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