Michael Hershfield Research by SuperAGI

Michael Hershfield, Founder & CEO, Accrue Savings

Executive Summary

Michael Hershfield is the Founder and Chief Executive Officer of Accrue Savings (also styled as Accrue or Accrue Money, Inc.), a New York-based, venture-backed fintech company specializing in embedded financial solutions for merchants and retailers. With a proven track record spanning technology entrepreneurship, commercial strategy, and senior sales leadership, Hershfield leverages deep expertise in go-to-market operations to drive Accrue’s mission of transforming customer loyalty and payment experiences across retail and ecommerce verticals. His LinkedIn profile can be viewed at [http://www.linkedin.com/in/mhershfield](http://www.linkedin.com/in/mhershfield).

Professional Background and Education

Michael Hershfield is recognized as a serial entrepreneur and go-to-market leader possessing significant cross-functional experience in operations, sales, and marketing.

Accrue Savings (2021–Present): Founder & CEO, leading product, strategy, capital formation, and enterprise partnerships.

WeWork (Approx. 2017–2021): Former Senior Vice President of Sales; led sales growth during a key expansion phase, focusing on enterprise customer acquisition and scalable revenue operations.

Nucleus: Co-founder and Chief Operating Officer; involved with go-to-market and operations for a smart intercom startup focused on connected home communications.

Previous Tech Entrepreneurial Roles: First company founded in Toronto, 2007; moved into the New York tech ecosystem in 2009 after an initial venture faced market closure post-2008 crisis.

Education:

Bachelor of Arts in Political Science, McGill University

Juris Doctor (Law), University of British Columbia

Key Skill Sets:

B2B sales strategy

Enterprise software go-to-market

Product marketing

Cross-border technology innovation

Direct-to-consumer fintech product development

Company Overview: Accrue Savings

Accrue Savings (www.accruesavings.com) is a fintech platform enabling merchants to offer FDIC-insured stored value wallets directly to consumers, aligning loyalty and transactional incentives with long-term customer value (LTV) and operational cost reductions.

Positioning & Platform Capabilities:

Product: Provides an embeddable stored value wallet and payment rails for merchants, allowing for omnichannel activation (online, in-store, and via sales team).

Differentiators: “Save Now, Buy Later” as an alternative to “Buy Now, Pay Later” (BNPL). Empowers consumers to pre-fund purchases, earn rewards (akin to high-yield rebates), and receive social contributions towards goals, all while merchants realize improved conversion and reduced payment processing fees.

Customer Impact:

45% increase in customer average order value (AOV)

80% saving on payment costs

25% increase in shopper frequency

36M+ customer journeys influenced

Key Use Cases & Integrations:

Seamlessly brandable implementations for major merchants (e.g., AllBirds, Aurate, Smile Direct Club, Casper, Eterneva, Cheapoair, Justfly.com)

Solutions for high AOV and high-consideration products (travel, automotive, home, jewelry, healthcare)

Closed-loop refunds, custom reward rules, and debit card issuance targeted at individual merchants

Recent Company Developments:

$4.7M Seed Funding (Nov 2021) from Twelve Below, Box Group, and others.

$25M Series A (Jan 2022) led by Tiger Global Management, indicating strong institutional support and growth trajectory.

Merchant partnerships continue to expand, including the launch of innovative “Pay by Bank” features for travel platforms (e.g., Justfly.com, Aug 2024).

Strategic & Competitive Insights

Hershfield’s approach directly challenges both BNPL and large advertising platforms by (“Save Now, Buy Later”):

Offering merchants the ability to redirect marketing spend into customer rewards and savings accounts (reducing reliance on Google/Facebook retargeting)

Reducing consumer financial insecurity associated with credit/debt-based solutions

Enhancing acquisition, loyalty, and repeat purchase metrics through white-label savings accounts tailored to big-ticket or considered purchases

Product Metrics & Outcomes:

Case studies (e.g., Smile Direct Club) demonstrate up to 70% uplift in conversion compared to alternative site assets, with results indicating Accrue consistently delivers incremental revenue without cannibalizing existing sales.

Merchants see improved ROI on ad spend due to performance-based pricing (Accrue collects fees at point of purchase, not via SaaS or fixed monthly fees).

Integration supports multichannel journeys, with digital and in-store activation, periodic funding options (weekly, bi-weekly, monthly), and social gift/reward pooling.

Target Market:

U.S. consumers (60% of whom save for high-ticket items)

Enterprise and high-growth DNVB/retailers seeking lower-cost acquisition and higher LTV

Market Leadership, Mission, and Professional Presence

Thought Leadership & Media:
Hershfield is a frequent commentator on topics of financial inclusion, customer loyalty, alternative payments, and fintech innovation.

Featured on Forbes, NPR’s MoneyMatters Podcast, The Financial Brand, and multiple industry conferences and podcasts.

Insights cited in major media for trends in retail credit, consumer behavior, and new approaches to elevating savings culture over consumption-driven debt models.

Professional Philosophy:

Advocates for alignment of merchant and consumer interest via empowering savings, rewards, and economic sustainability.

Emphasizes mission-driven business models that promote financial health and long-term customer relationships.

Online Presence:

[LinkedIn: Michael Hershfield](https://www.linkedin.com/in/mhershfield)

[X / Twitter Profile](https://x.com/hershfield?lang=en)

Additional Company & Regulatory Notes

Banking Services: Accrue Money, Inc. operates as a fintech, with FDIC-insured services provided via Bangor Savings Bank. Debit cards issued in partnership with Mastercard.

Compliance: Consumer funds are protected with pass-through FDIC insurance, subject to regulatory conditions.

Legal & Consumer Transparency: Terms of use, privacy, and rewards programs are highly visible and regulated, indicating Acurrue’s adherence to evolving fintech compliance standards.

Actionable Insights

Hershfield’s strong background in enterprise sales and fintech productization positions Accrue as a key potential partner for merchants seeking tactical customer loyalty innovation or to lower payment processing costs.

Case studies, data-driven ROI, and ongoing product expansion suggest value for direct engagement around custom loyalty, rebate, and high-ticket purchase journeys.

The company’s performance-based fee model, rapid growth, and venture backing reflect strong product-market fit in a shifting payments and marketing landscape.

Hershfield’s openness to discussion and collaboration, combined with deep founder experience and board/trusted network affiliations, increases the likelihood of high-engagement partnerships.

Key Contact: