MoneyStack, a Pittsburgh-based financial counseling platform for behavioral healthcare, has raised $1 million in new funding led by Cistern Capital. The round also included participation from the American Heart Association’s Social Impact Funds, O’Shaughnessy Ventures, Sidecut Ventures, Gaingels and angel investors. The financing brings the company’s total funding to date to nearly $2 million.
Founded in 2017 and led by founder and CEO Alex De Marco, MoneyStack integrates financial counselors into behavioral healthcare programs to support individuals and families experiencing acute financial distress alongside mental health and addiction-related challenges.
The company works with behavioral health providers, state agencies and other third-party payers to incorporate specialized financial counseling into existing care programs. Its platform includes GamFin, a suite of services focused on financial problems associated with gambling addiction. MoneyStack also provides individual and team-based financial counseling in coordination with treatment centers and clinical teams.
MoneyStack plans to use the new capital to continue developing technology designed for financial counseling within behavioral healthcare. The company said its planned tools include applications of financial transaction data to identify potential early signs of financial harm, helping counselors and clients address problems before they develop into a financial crisis.
