Happy Money Down Round = Sad Money

Happy Money provides a peer-to-peer lending platform that offers fixed-rate loans to credit-worthy customers in order to pay off credit card debt. It is also a component in the Prime Unicorn Index benchmark, the standard bearer for private markets benchmarking. 
In December 2021, Happy Money raised $52.56mm in a Series D Preferred round led by Anthemis Group, CMFG Ventures, and others which valued the company at $1.2 billion on a post-money valuation basis at a preferred price per share of $3.79. Unfortunately, its most recent raise was a significant down round for the company. On March 2, 2023, it raised a Series E preferred at $0.33 per share, valuing the company at $139 million, which was a 88% discount to its last preferred round, thus, no longer making it eligible for inclusion in the Prime Unicorn Index.
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