TheTenn is a neobank that employs data analytics and machine learning to enhance financial service accessibility and transparency, enabling users to manage their finances through a mobile app without monthly fees or minimum balance requirements. The platform provides features such as early direct deposit, a secured credit card for building credit history, and cashback rewards, addressing the inefficiencies and lack of customer-centric solutions found in traditional banking.
Funding
$5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals, particularly those with limited credit history or seeking accessible banking solutions, face challenges with traditional banks, including monthly fees, minimum balance requirements, and credit checks. This can create barriers to managing finances effectively and building credit.
Solution
TheTenn provides a mobile-first banking platform designed to offer accessible and transparent financial services without the typical fees and complexities of traditional banking. By offering features like early direct deposit, a secured credit card, and cashback rewards, TheTenn empowers users to manage their money, build credit history, and earn rewards through everyday spending. The platform leverages data analytics to provide a user-friendly experience, ensuring financial services are within reach for a broader audience. TheTenn account provides access to a secured charge card allowing users to safely build credit history, all while having access to features like earlier direct deposits and cashback rewards.
Target Audience
TheTenn targets individuals seeking accessible and fee-free banking solutions, particularly those with limited credit history or those underserved by traditional financial institutions.
Features
- No monthly fees, minimum balances, or transfer fees
- Early access to direct deposit funds, up to 2 days early
- Secured charge card to build credit history with no credit checks
- Cashback rewards on purchases at select retailers, up to 8%
- Physical and digital contactless card compatible with Apple Pay, Google Wallet, and Samsung Pay
- FDIC insurance up to $250,000 through Evolve Bank & Trust, Member FDIC
- Mobile app with fingerprint and Face ID lock for enhanced security and card control
- Send money to friends and family with zero fees