Wallit, a venture-backed financial technology startup in Westbrook, has raised $2.6 million in a new fundraising round as it continues to ramp up its sales and marketing efforts.

The new round, which follows a $4 million round raised in early 2018, was led by early-stage, Boston-based fintech investors BlueIO, Mendoza Ventures and BoxOne Ventures. It also included unnamed angel investors and the Maine Technology Institute. The company did not specify whether the $2.6 million was raised through the sale of equity or debt. However, the company’s most recent filing with the U.S. Securities and Exchange Commission was in June and specified that it was raising $1.6 million in debt. I’ll update the story when the company responds to my inquiry.

The company said it would use the infusion of capital to expand its core product, drive the company’s sales and marketing initiatives and increase channel partnerships with regional and community banks and credit unions.

Wallit, which changed its name from Ourly earlier this year, bills itself as a “smart digital wallet for families and their teens.” Users can connect the Wallit app to their bank accounts and use it to manage allowances, set savings goals and track spending.

The app is free to use and end users can connect it to accounts with any financial institution. Wallit generates revenue by signing up banks and credit unions that are looking for an innovative digital tool that could help them increase user engagement and reach new Millennial and Gen Z customers.

The company declined to share revenue figures, but said it’s currently working with eight financial institutions spread throughout the country. It says it currently has more than 20,000 monthly active users.

“Our recent success driving deposits for our banking partners demonstrates that rewarding consumer engagement programs can have a dramatic impact on revenues and growth,” Wallit CEO Mike Vien said in a statement. “Not only does Wallit allow banks and credit unions to drive deposits directly, but it also allows them to drive purchases and increase loyalty.”