Super.com has raised a $65 million Series D round led by TPG, pushing its valuation to $1.2 billion. The company, which targets lower-income consumers with a savings app, also says it is now profitable.
The funding underscores growing investor interest in financial tools for underserved populations. Super.com's approach focuses on helping users build savings habits, a market often overlooked by traditional banks.
The Series D brings Super.com's total funding to over $200 million. The company did not disclose specific revenue figures but emphasized its path to profitability as a key milestone.
With fresh capital, Super.com plans to expand its product offerings and user base. The profitability claim could signal a sustainable business model in a sector where many fintechs still burn cash.
Critics argue that targeting low-income consumers with savings products carries inherent risks, including potential over-reliance on fees. However, the company's profitability suggests it may have found a viable niche.