Banksimple's mission is to reinvent the way consumers bank, both online and off. In 2011, the startup will offer bankers an online-only banking solution designed to eliminate traditional service fees, provide stellar customer service, offer predictive money management and integrate social media into the system.
The funds will allow Banksimple to forge ahead with crucial banking partnerships that will form the financial backbone of the platform. The money will also help the company finance its initial test run of the service with friends and family before the end of the year.
"To get customer service right for banking, we need to build a technology company," said CEO Joshua Reich in an interview with Mashable.
Banksimple had previously raised $190,000 from angel investors in a seed round. To date, the startup has raised nearly $3.1 million -- money enough to last them through the end of 2011, according to Reich.
