Envel, Inc. was a financial technology company that offered a mobile banking application aimed at automating personal finance management. Its mission was to improve users' financial health through an AI-driven system based on the envelope budgeting method, automatically splitting income into customizable sub-accounts for bills, savings, and discretionary spending. The company provided FDIC-insured deposit accounts and a debit card through its partnership with nbkc bank. Despite its innovative approach, numerous public reports and a notice from the Better Business Bureau in early 2024 indicate the company has ceased operations, with many users reporting being unable to access their funds or receive customer support.

Founded in

United States