Digit

Automates savings and debt repayment services

San Francisco, California, United States

About Digit

Digit.co helps individuals save money and pay off debt automatically by connecting their credit cards and bank accounts to its platform. The service analyzes users' spending habits and transfers small amounts of money into a savings account without requiring active involvement from the user. This approach allows users to save for various goals, such as paying off bills or preparing for emergencies. Unlike many competitors, Digit operates on a subscription model, offering a 30-day free trial followed by a monthly fee for access to its automated tools. The company's goal is to enhance the financial health of its users by making saving and debt repayment easy and stress-free, while also building trust through continuous feedback and improvement.

San Francisco, CaliforniaHeadquarters
2005Year Founded
$64.5MTotal Funding
ACQUISITIONCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Benefits

100% paid family medical, dental, and vision plans
401(k) plan
18 weeks parental leave
Wellness perks
Lunch stipend
Life, AD&D, disability benefits
Unlimited PTO
Fertility reimbursement
Mental health resources
Internet reimbursement

Risks

Increased competition may erode Digit's market share in automated savings.
'Buy Now, Pay Later' services could reduce demand for Digit's debt tools.
Consumer privacy regulations may impact Digit's ability to analyze spending habits.

Differentiation

Digit automates savings by analyzing user spending habits and transferring small amounts.
The platform targets millennials and those lacking financial literacy for effortless saving.
Digit's subscription model funds its advanced financial management technology and services.

Upsides

AI-driven financial tools enhance Digit's automated savings and debt repayment features.
Embedded finance allows Digit to expand its reach and user base.
Financial wellness programs offer a new market for Digit's services as employee benefits.