UNest Series-A

This is the UNest pitch deck to raise a $9m series-a round in 2020.

About

UNest is an app democratizing access to smart financial solutions for all families.

UNest started as a college savings app, offering 529 college savings plans. Since its launch in 2018, the fintech has broadened its scope to include general savings accounts for kids.

“The feedback that we’ve heard from our existing users is that they don’t want to save just for education,” Yudina said. “They want to invest in their kids’ futures, but be able to save for their first car or a down payment on a home.”

Los Angeles-based UNest, which extended its seed round in January, announced a $9 million Series A on June 16 led by Anthos Capital with participation from investors like Northwestern Mutual Future Ventures and former NBA all-star Baron Davis.

As UNest has expanded its product offerings, its userbase has continued to grow, especially amid the coronavirus pandemic during which many parents are spending more time with their kids. Since February, UNest has added 25,000 accounts. The funding will be used to invest in more marketing and brand awareness as UNest looks to grow its userbase, Yudina said.

And the round was raised entirely remotely amid coronavirus shutdowns.

“The concern that most companies seem to have going into the pandemic is that there would be a lot of down rounds,” Peter Mansfield, chief marketing officer at UNest, told Business Insider.

Given the economic volatility over the past few months, it’s easy for founders to feel a bit bearish, Mansfield said. Instead, UNest was able to leverage the growth it had already experienced, resulting in a “a very big up round,” he added.

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