# Charlie

> Charlie was a Los Angeles-based digital banking platform built specifically for Americans aged 62 and older. Founded in late 2021 by Oscar Health co-founder Kevin Nazemi, it offered a fee-free FDIC-insured account through Sutton Bank with 3% earnings, early access to Social Security deposits, US-based human support, and FraudShield, a suite of fraud protections designed for the population that loses an estimated $28 billion a year to financial scams. After raising $23 million in 2023, Charlie wound down operations on January 21, 2026.

- **Founded:** 2021
- **Headquarters:** Los Angeles, California, United States
- **Founders:** Kevin Nazemi (Co-Founder & CEO), Richard Kang (Co-Founder), Ivan Nausieda (Co-Founder), Ibrahim El Tatawy (Co-Founder)
- **Team size:** About 35 employees (roughly 15 as of late 2023)
- **Products:** Charlie Account, Early Social Security Deposit, Charlie Visa Debit Card, FraudShield, US-based human support
- **Notable:** Launched a banking platform built specifically for the 62+ community in May 2023., Raised $23 million within six months of launch, led by TTV Capital., Launched FraudShield, among the first fraud-protection suites designed specifically for older Americans.

## Products & services

- **Charlie Account** — A no-fee, no-minimum FDIC-insured demand deposit account issued through Sutton Bank, earning 3% on average balances.
- **Early Social Security Deposit** — Access to Social Security benefits several days to up to four weeks early, depending on signup timing, with no fees.
- **Charlie Visa Debit Card** — A Visa debit card with fee-free access to roughly 55,000 ATMs at retailers like Target, CVS and Walgreens.
- **FraudShield** — A suite of fraud protections built for seniors, including the ability to put a debit card 'to sleep' so all non-recurring transactions are blocked, plus transaction monitoring and alerts.
- **US-based human support** — Live, US-based customer service designed for accessibility and trust with older customers.

## Achievements

- Launched a banking platform built specifically for the 62+ community in May 2023.
- Raised $23 million within six months of launch, led by TTV Capital.
- Launched FraudShield, among the first fraud-protection suites designed specifically for older Americans.
- Acquired several thousand customers across all 50 states.
- Founded by Kevin Nazemi, who previously co-founded Oscar Health and Renew Health.

## Latest updates

- **2023-05** — Charlie launched its banking app for the 62+ community and raised a $7.5M seed round.
- **2023-10** — Raised $23M Series A led by TTV Capital and launched fraud protections for seniors.
- **2026-01** — Charlie wound down operations on January 21, 2026, citing economic conditions; Sutton Bank continued limited support for former customers.

## Links

- Website: https://charlie.com
- LinkedIn: http://www.linkedin.com/company/charliefinancial
- Facebook: https://facebook.com/charliefinancialinc

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Profile page: https://yespress.io/charlie
Published by YesPress — https://yespress.io
Last updated: 2026-06-15