Fintech for the Caring Economy: The Beans Expands with Let’s Get Set Acquisition

SAN FRANCISCO, CA, UNITED STATES, April 15, 2025 /EINPresswire.com/ -- The Beans, a leading provider of employee financial wellness solutions for Caring Professionals, today announced its acquisition of Let’s Get Set, a female-founded fintech company focused on maximizing tax savings and strengthening emergency financial coverage for working families. The acquisition enhances The Beans’ ability to relieve financial stress and improve financial outcomes for America’s Caring Class—professionals in healthcare, education, public service, and nonprofits.

By combining Let’s Get Set’s expertise in tax optimization with The Beans’ evidence-based financial training, tools, and support, the expanded platform will deliver greater financial security and increase savings opportunities for employees across the caring economy.

“Savings relieves financial stress and strengthens decision-making. The tax refund is a significant opportunity to establish or grow savings and to build financial resilience for our community,” said Melissa Pancoast, Founder and CEO of The Beans. “We acquired Let’s Get Set for the strength of their team and the opportunity to provide meaningful support during a critical financial moment—filing taxes, accessing full tax credits, and driving refund dollars to Essential Savings.”

Let’s Get Set previously partnered with organizations like Nurse-Family Partnership to increase the uptake of federal tax credits and deliver larger refunds (1). Tax refunds often represent the largest financial event of the year for The Beans’ community members—who are predominantly middle-income professionals in care roles—and offer a pivotal opportunity to build savings.

As part of this acquisition, The Beans is also deepening its services in the healthcare sector, where financial stress is a key driver of employee turnover. Replacing a single registered nurse can cost between $28,400 to $51,700 (2), and with RN turnover rates at 18–25% annually (3), financial wellness support represents a significant opportunity for employers to address retention, improving the quality of care, and reducing costs.

“Employers are thrilled with The Beans’ expanded and timely offering and we've seen an increase in employee engagement with our tax-credit training and filing,” said Pancoast.

Employers who partner with The Beans relieve their teams' financial stress and improve their teams' financial stability. On average, employees who make a financial plan using The Beans app commit 6% of their take home pay per month to Essential Savings—nearly double the national average (4).

The Let’s Get Set leadership team joins The Beans, bringing on two seasoned female founders and former Caring Professionals. Clare Herceg, a cross-sector leader with 15+ years of experience scaling products and partnerships, will serve as Vice President of Growth. Jill Berardini, a technical and engineering leader with more than a decade of experience building financial and health-focused products, joins as Senior Engineer.

“We founded Let’s Get Set to design financial products for underserved communities,” said Clare Herceg, VP of Growth at The Beans. “By joining forces with The Beans, we’re excited to extend our mission in service of caregiving professionals—the backbone of our economy—who deserve financial tools tailored to their needs.”

For more information, visit www.thebeans.io.

About The Beans
The Beans is a financial wellness platform built for Caring Professionals—those working in healthcare, education, public service, and nonprofits. Grounded in behavioral science and developed by a team of economists, technologists, and former caring professionals, The Beans helps employees reduce financial stress, build savings, and improve retention and engagement at work. Employers partner with The Beans to provide their teams with evidence-based tools that drive measurable financial outcomes.

About Let’s Get Set
Let’s Get Set is a mission-driven fintech company founded to help low- and moderate-income families access the financial tools, savings, and tax benefits they deserve. By simplifying the tax filing process and maximizing refunds, Let’s Get Set has helped thousands of families turn tax season into an opportunity for financial stability and growth. The company has been recognized for its work in increasing the uptake of key public benefits through technology and human-centered design.

1- Tax Policy Center
https://taxpolicycenter.org/sites/default/files/publication/164707/helping_new_mothers_understand_the_benefits_of_filing_taxes.pdf
2- American Organization for Nursing Leadership (https://www.aonl.org/news/Industry-study-estimates-cost-of-hospital-nurse-turnover)
3- 2024 NSI National Health Care Retention + RN Staffing Report (https://www.nsinursingsolutions.com/documents/library/nsi_national_health_care_retention_report.pdf
4- Bureau of Economic Analysis
(https://www.bea.gov/data/income-saving/personal-saving-rate)

Andrea Sok
Sok Influencer PR
+1 202-596-1178
press@sokinfluencerpr.com