Envel is a U.S. AI-based Autonomous Banking Challenger, providing customers with the ability to open up to 99 FDIC insured bank accounts within seconds powered by its envelope system.
Envel has engineered the first ever AI-based Autonomous Bank Account to manage users' finances on Autopilot.
Envel was founded in 2018 by Steve Le Roux. The company is headquartered in Boston, Massachusetts.
Envel provides users with a contactless Envel Visa® Debit Card as well as access to Apple Pay and Google Pay. Envel enables a fully autonomous experience with budgeting and savings on Autopilot.
Envel's digital banking app is designed for a young generation of consumers in need of financial guidance.
Envel uses its patent-pending AI technology and insights from the intersection of behavioral science and Artificial Intelligence to help Americans better manage their money. Envel initially plans to target college students, Gen Z and Millennials, with the long-term goal of guiding 1 million students out of debt.
Envel has raised $2.7M in Seed funding from U.S. Angels and Family Offices who are committed to improving budgeting and financial stability for millions of Americans, particularly relevant during the current crisis.