By Zoran Temelkov June, 2022
Ivella, a Santa Monica-based startup, has completed a $3.5 million seed round financing led by Anthemis, Financial Venture Studio, and Soma Capital. The seed round received support from investors such as Y Combinator, Sahil Lavingia, and Joshua Browder.
The company develops banking applications intended for use by couples to support their relationship. Couples are able to track and split expenses, transfer money and share their financial accounts without the need for a joint account. The clients can set their preferred ratio to automatically split their expenses.
Although Ivella is not a bank, it offers banking services that are provided by Blue Ridge Bank N.A. For instance, the Ivella Visa Debit card is issued by the partnering bank with a license from Visa U.S.A. Inc.
Ivella deposit accounts are issued and insured for up to $250,000 by Blue Ridge Bank N.S., an FDIC member (Federal Deposit Insurance Corporation). Since it is the couple’s app, it should be noted that the accounts of each partner are each insured for up to $250,000.