HMBradley Switches Accounts To Invite Only

Santa Monica-based fintech startup HMBradley, which offers up an online-online checking account which pays up to 3.50% annual percentage yield (APY), says it is switching its accounts to be “invite only”, and is now looking for additional banking partners. According to the company, it has now amassed more than $375M in deposits in the 15 months since it launched. HMBradley is backed by Acrew Capital and Walkabout Ventures, and its rates are paid not based on a user’s balance, but the percentage of direct deposit they are saving with the company. The company is led by co-founder and CEO Zach Bruhnke. The company’s current deposit accounts go to Hatch Bank.