BankSimple Announces Funding & Partnerships to Launch Real-Time Banking Platform

BankSimple, the highly anticipated web-only bank being built with an emphasis on user experience and no fees, is getting closer to launching, the company said today. CEO Joshua Reich put up a blog post this afternoon announcing that BankSimple has secured partnerships with VISA, Barcorp and other institutions to enable its customers to get transaction rewards and have their deposits FDIC insured. Additionally, the company announced that it has grown its venture capital war-chest from $3.1 million to $13.1 million. The company is testing its products now and says it will launch within the year.

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