Financial technology company, One, announced its Series B funding of $40 million. The round is led by Progressive Investment Company, Inc., with participation from Obvious Ventures, Foundation Capital, and Core Innovation Capital and others.

Since making its product generally available in September of 2020, One has rapidly enhanced its core product offering, launching award-winning overdraft protection, an Auto-Save feature that rewards automatic savings contributions at 3.00% APY, cash flow-based Credit Lines that enables borrowing as low as 12% APR, and a Credit Builder product to help build financial health for those that need it most.