Qoins
“Can spare-change automation be turned into a full neobank that pays down consumer debt with every transaction?”
Founded2016
HQAtlanta, Georgia, United States
Total raised$3.26M
IndustryFintech / Consumer banking
The story
Qoins began in 2016 as a roundup-style automated debt-payoff tool, applying spare change toward customers' loans. In 2022 it pivoted into a full neobank by launching the Qoins Card debit product on Bond's embedded finance stack, attempting to extend its debt-payoff thesis to every swipe. The company ceased operations in June 2023 after failing to scale beyond ~10,000 paying customers and $3.26M raised.
Last 12 months
—
Product timeline
2016
Qoins founded in Atlanta as an automated micro-payment platform to help users pay down debt with spare change.· launch
2022
Launched Qoins Card debit card on Bond Financial Technologies' embedded finance platform — became a neobank in under 4 weeks.· card
2023
Ceased operations in June 2023.· shutdown
The stack
Accounting gap: none