SAN FRANCISCO–(BUSINESS WIRE)–Jun 25, 2021–
Paceline, the retail health and wellness platform that incentivizes consumers to live a healthy lifestyle, today announced the close of a $29.5 million Series A financing round. The round was led by Acrew Capital, with participation from Mubadala Capital along with existing investors.
Following rapid user growth over the last year, Paceline will use the capital to build out its team as the company expands their rewards program and further extends the rollout of a full embedded financial platform later this year.
“Acrew believes in supporting a new breed of companies that are looking to rebuild financial services from the ground up to better serve humanity,” said Lauren Kolodny, Founding Partner at Acrew Capital. “Paceline has the opportunity to create a new category that encourages consumer wellness, both health and financial.”
Research suggests that the majority of chronic diseases could potentially be avoided through changing lifestyle factors. Paceline’s vision is to leverage retail health and wellness brands and financial services to become the ultimate payer of preventative health in society. With strong existing user growth and engagement, the next step towards this vision is the upcoming launch of a health and wellness rewards credit card,…