California based neobank targeted towards the LGBTQ+ community raised $5m in seed funding led by Kapor Capital and Precursor Ventures.
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Daylight raises millions to build a digital banking platform ‘designed for and by’ the LGBTQ+ community
“LGBT people engage with money really differently and there’s a multitude of reasons for that...we spend about the same proportion of our income on discretionary spend, but we’re about 20% less likely to have a savings account, 20% less likely to own investments like stocks, or a quarter less likely to own a mutual fund. And we estimate that only about 30% of our community has any estate planning in place," said Rob Curtis, CEO and co-founder.
