Fintech startup SecureSave has been acquired by Wisconsin-based HSA Bank, bringing the company’s emergency savings platform under the financial institution’s umbrella as a wholly-owned subsidiary.

SecureSave, a tradename for Secure Inc., offers a software platform to support employee emergency savings accounts. Co-founded by CEO Devin Miller, the company has helped over 60,000 people save over $100 million to date, Miller says.

He declines to disclose the terms of the transaction, which was completed Dec. 4.

SecureSave and HSA Bank are fully-remote companies, says Miller, who leads the startup from his home base in Spokane. All 23 of SecureSave’s full-time employees were retained in the acquisition, he adds. SecureSave also has two contract workers who will continue working with the company.

“The entire team came along with the deal,” Miller says. “This is really about accelerating our growth and the opportunity ahead of us, continue to grow the team, grow the platform, invest in the product and the business.”

HSA has been an investor and partner of SecureSave for some time, Miller says. Talks of an acquisition began over a year ago. Moving forward, SecureSave will no longer need to fundraise venture capital to continue growing, as it will be backed and fully supported by HSA. The product and company mission will also remain intact, he adds.

“They are committed to continuing to invest and support the business as we continue to grow,” Miller says. “It’s a nice relief to be able to have a long-term partner that supports us.”

As reported by the Journal, SecureSave was founded in 2020 by Miller, former co-worker Bassam Saliba, and personal finance celebrity Suze Orman. The company is formally headquartered in Kirkland, Washington, with employees spread remotely throughout the state.

SecureSave’s workplace emergency savings program operates as an “out-of-plan” benefi­t — funded through payroll and offered by employers but separate from regulated retirement accounts like 401(k) plans. SecureSave accounts are FDIC-insured through banking partners, and employees can access funds anytime.

HSA Bank, a division of Webster Bank N.A., and Webster Financial Corp. (NYSE: WBS), the holding company for Webster Bank, is one of the country’s leading health care savings and spending accounts, according to a company press release.