HMBradley, a startup backed by PayPal Co-Founder Max Levchin, has officially launched its high yield digital banking platform after raising $3.5 million in November and signing thousands of applicants to a wait list. 

The digital banking service, which offers up to 3% APY, is now allowing waitlisted customers to officially open their bank accounts and has launched a savings program called Plans, which helps account holders set aside funds for specific goals. 

"We are excited to open our virtual doors and welcome people from all income brackets as we introduce a new way to bank," Zach Bruhnke, co-founder and CEO of HMBradley, said in a press release. "We want to empower and protect every consumer financially to show them that a bank can be on their side, regardless of how much money they make."

HMBradley offers FDIC-insured accounts through Hatch Bank, a California-based digital bank and subsidiary of Firstrust Bank. HMBradley provides customers fee-free access to 55,000 ATMs nationwide, mobile check deposit and 24/7 customer service support. 

HMBradley will soon launch a feature called one-click credit, which provides pre-qualified credit offers to customers, giving them full disclosure of terms and the ability to accept the offer with a single click.

Cover image: HMBradley