Simple (bank)

Simple is an American banking company headquartered in Portland, Oregon offering a suite of all-electronic consumer banking services. To provide FDIC-insured checking accounts, Simple partners with The Bancorp. Simple also partners with Allpoint to offer surcharge-free access to its national network of ATMs. Simple is a subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA).
History
What was initially known as BankSimple was founded in 2009 in Brooklyn by former CTO Alex Payne, CEO Joshua Reich and CFO Shamir Karkal in 2009. In August 2011, the company raised $10 million from investors led by IA Ventures and Shasta Ventures;later that month, the company's headquarters was moved to Portland, where five of the company's 17 employees already resided.
The company launched in the summer of 2012 as a limited beta.
By January 2013, the company had 20,000 customers and had processed more than $200 million in transactions. By July 2013, its customers...