FinTech: Banking Giant Truist Acquires Gamified Savings App Long Game

The terms of the acquisition by Truist were not disclosed.
Truist Financial Corporation (NYSE: TFC) has acquired Long Game, a mobile savings gamification app that changes how users engage with their bank by using prize-linked savings and casual gaming to motivate smart financial behavior, driving account growth and client retention. The result of a 2019 merger between BB&T and SunTrust, Truist is the sixth-largest bank in the US and has $488 billion of assets. Long Game, founded in 2015, is a fintech startup with a team of 12 people. (CISION PR NEWSWIRE)

Long Game has raised over $20 million in funding and is led by co-founder and CEO Lindsay Holden. At Truist, she will lead a team for technology innovation and developing new client-facing solutions.
“Truist’s commitment to helping people build financial wellness is exactly what we are about at Long Game,” said Holden in a statement. “We’ve revolutionized bank engagement and are eager to apply ourselves to creating disruptive technologies that help Truist deliver a human touch in new ways.”
“At Truist, we are laser-focused on shaping the future of finance with innovative people and products – and democratizing entrepreneurial opportunity while we do it,” said Vanessa Indriolo Vreeland, head of corporate development and Truist Ventures. “Long Game is a female-led business with a diverse team of incredibly talented innovators creating unique solutions to help people achieve financial confidence.”
Related Story: Brex Acquires Pry Financials For $90M

Latest Alternative Investment News

Digital Assets: Michael Saylor Unmoved By Crypto Weakness; “We Think It’s The Future Of Money”
Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently…

Digital Assets: Traditional Markets Could Suffer Contagion From (Un)Stablecoins (SEC Chair Gensler)
The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.”…

Venture Capital: Big-Ticket Funding Rounds In Fintechs
Fast-growing, Southeast Asia-focused payments infrastructure platform Xendit closed on a US$300 million Series D funding co-led by Coatue and Insight Partners with additional investment from Accel, Tiger Global, Kleiner Perkins,…

FinTech: Sam Bankman-Fried Led FTX.US Makes Inroads Into Stock Trading
FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected…