Origin Acquires Finny to Fill Critical Workplace Gap

Financial Planners

BOSTON, June 5, 2023 (Globe Newswire) — Origin, a startup reimagining financial wellness at work, today announced that it has acquired financial health startup Finny. Origin integrates Finny’s financial education, content, curriculum and debt management tools into its financial wellness platform to address the urgent need for increased financial literacy. Terms were not disclosed.

Money is the number one cause of stress, more than work, health and relationships combined. That stress is exacerbated in the current economic climate, where people are facing once-in-a-generation financial challenges. Origin tackles this problem head-on by expanding access to wealth management for people who have been excluded due to high barriers to entry. The Origin Platform simplifies personal finances, making it easier to track spending, get expert advice, manage investments, and take action to reach your financial goals.

The acquisition of Finny will enable Origin to provide its customers with the valuable resources and financial education content they need to empower their employees to make more informed decisions about their financial future. increase. For example, people can now learn about credit reporting, understand the nuances involved in calculating a credit score, and access their own credit score to get actionable advice on how to improve it. can.

Origin co-founder and CEO Matthew Watson founded the company in 2019. Despite starting his career in Wall Street finance, Watson was unable to find widely available resources to easily manage his personal finances, and others have experienced the same pattern. was “Most people just don’t have access to financial planning tools, and financial advisors traditionally work only with high-income earners. Not only the required fees, but also investment and tax opportunities can be missed, costing thousands of dollars a year,” Watson said.

With tremendous demand for an all-in-one, more accessible financial planning platform, Origin experienced rapid growth, with revenue more than doubling year-over-year. To date, Origin has raised his $70 million from top VC funds, including his 01 Advisors, and managing his partner Dick Costolo took to his Twitter account to highlight the pain points of Origin’s customers. I experienced it firsthand. “During his tenure as CEO of Twitter, I have witnessed first-hand the knowledge gap that exists among employees and even HR teams when it comes to understanding equity and financial benefits.” Costoro said. “We strongly believe that Origin can fill that gap and revolutionize financial literacy and education in a way that has never been done before.”

Today, Origin is offered to individuals as an employee benefit to help reduce financial stress for employees, making them happier and more productive. Offering Origin as a benefit also helps attract and retain employees. His 93% of employees want the company to increase access to financial plans (although only 28% of him do). Plus Origin is a special initiative to strengthen the People team, assist with compensation, benefits, equity grants, and reduce employer liability by introducing third-party registered financial advisors as a resource for employees. act as a support.

Lattice is one of many companies offering Origin as a benefit to their employees. “Origin is a very popular benefit program among employees and provides employees with valuable insight into finances, compensation and capital,” said Cara Allamano, Chief Human Resources Officer at Lattice. increase. “Origin’s acquisition of Finney puts more money at our fingertips. Our employees are looking for this kind of educational content and tutorials and this is all within the Origin platform. Having it all in one place is very useful.”

On the employee side, Origin members are matched with a certified financial planner to discuss their finances, goals, and develop an action plan. Planner provides personalized advice to help you make smarter financial decisions and prepare for life’s biggest milestones like buying a home, starting a family, paying off student loans, and planning for retirement. Individuals can also use the Origin platform and her mobile her app to track and visualize all their finances, including connecting accounts, creating budgets, managing investments and retirement savings. . Origin also helps you understand the tax implications of compensating or selling stock. Each individual is matched with her CFP for ongoing collaboration.

The acquisition of Finny is an important milestone for Origin that demonstrates the company’s dedication to providing a comprehensive and balanced financial wellness platform. Finney has worked with employers and her more than 60,000 consumers to provide leading financial education. By integrating Finny’s financial education resources and debt management tools, Origin can have an even greater impact on the financial health of its employees.

“Finney’s expertise in financial education and focus on debt management will be an invaluable addition to the Origin platform,” said Watson. “We believe addressing the educational gap in employee financial education is key to helping individuals achieve financial stability.”

“Origin’s commitment to simplifying employee financial management aligns with Finney’s mission to improve global financial literacy,” said Finney co-founders Chi-Hee Kim and Milan. Kovacevic said. “We both share a common goal of helping individuals achieve secure financial futures, and we are excited to work together to further expand our reach and impact.”

about the origin
Origin is reimagining financial wellness at work with the most comprehensive all-in-one financial planning platform. Origin is an all-in-one software-based financial management platform that combines proprietary technology and certified financial planners to help people track their expenses and income, get expert advice, take action, and confidently and easily. Lets you manage your money. Origin is powered by hundreds of innovative employers, including Lattice, Roku, and Udemy. For more information about Origin, please visit useorigin.com.

Media contact:
Kelly Metzdorf
big swing communications

A photo accompanying this announcement can be found at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d44297d-939f-46af-a491-ae40233457c4.

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