One, a San Francisco-based digital banking startup led by former Intuit and PayPal CEO Bill Harris, announced the launch of its private beta test and a $17 million Series A funding round led by Foundation Capital, Core Innovation Capital and Obvious Ventures. 

One provides savings accounts with competitive interest rates, digital banking with no monthly fees, overdraft charges and an integrated line of credit. 

"There's a gap in the market that's not being met," he said, in a company release. "Traditional banks cater mostly to affluent customers and most digital banks target younger individuals with simpler financial needs."

The bank has raised $26 million to date.