Investors are betting on Secure, a new Seattle-area startup riding a trend of increased interest in emergency savings accounts amid the pandemic.
Secure just spun out of Pioneer Square Labs late last year with its app that helps employers offer a financial wellness benefit to workers beyond their paycheck in the form of an emergency savings account (ESA).
Around 40% of Americans struggle to come up with $400 for an unexpected expense, according to a 2019 survey from the Federal Reserve. That was well before the pandemic forced a nationwide economic crisis.
Miller previously led Balance Financial, a Seattle-area startup acquired by Blucora’s TaxAct subsidiary in 2013. He later joined Guidant Financial as executive vice president and later president.
The startup has 12 employees and is launching with its first customers this month.