https://techcrunch.com/2020/02/19/level-launches-a-mobile-banking-app-offering-1-cash-back-on-debit-purchases-2-10-apy/

A number of startups are taking on big banks with new apps that offer modern, mobile banking experiences, innovative features, and reduced or even zero fees. Entering this now-crowded market is Level, a challenger bank and banking app with advantages like 1% cash back on debit card purchases, 2.1% APY on deposits, early access to paychecks, and no fees.

The banking service is the latest from the same team behind the “debit-style” credit card called Zero, aimed at millennials who want the benefits of credit, without the potential for overspending. As Zero, the company last year closed on $20 million in Series A funding from New Enterprise Associates (NEA) SignalFire, Eniac Ventures, and Nyca, bringing its total raise to date $35 million.