Credit Genie Secures $4 Million Series A Financing to Expand its Innovative Approach to Behavioral Finance and Personalized Budgeting
PLYMOUTH MEETING, Pa., May 31, 2023 /PRNewswire/ -- Creditly Corp., dba Credit Genie, a digital personal finance platform that has helped more than one million Americans, announced today that it has raised $4 million in Series A financing. The funding round was led by Tippet Ventures and Khosla Ventures, with participation from Gabriel Investments. Credit Genie's innovative use of artificial intelligence (AI) and machine learning helps to revolutionize risk management and personalized budgeting for the financial middle class, providing them with accurate and individualized financial insights that can help improve their financial well-being.
With the new funding, Credit Genie will expand products and hire top talent to scale its innovative approach to behavioral finance, budgeting and cash/credit management. The company aims to help millions of consumers access efficient credit at fair rates, using cutting-edge technology that analyzes diverse data points such as behavior, chat and qualitative indicators. This collective analysis identifies a person's desire to elevate their lifestyle and financial well-being, providing more accurat predictions and insights than traditional credit scoring methods.
"We believe Creditly Corp's innovative approach to delivering financial insights and credit-related services has the potential to play a leading role in the mobile financial services space," said Andy Sheehan of Tippet Ventures. "Their technology has already demonstrated impressive results, and we are excited to support their continued growth and expansion."
Credit Genie's mobile platform delivers financial insights and credit-related services that use personal transaction data instead of traditional credit data to extract financial intents and desires behind the transactions. By doing so, it provides a more comprehensive view of creditworthiness. The platform also utilizes home-grown machine learning and AI algorithms as well as "Open AI" to identify patterns and predict credit risk, resulting in more accurate credit scores and better lending decisions. In connection with the Series A financing, Credit Genie has also secured a credit facility with affiliates of Fortress Investment Group, to help it finance its cash advance and credit card receivables.
"We are thrilled to have the support of such a distinguished group of investors as we work to transform the personalized finance industry," said Founder Ed Harycki. "Our mission is to provide accessible financial products and services that help consumers improve their financial wellness. The company aims to provide a more inclusive and fair credit system, regardless of their income level or credit history, that empowers individuals to achieve their financial goals."
About Creditly Corp:
For more information, visit www.creditgenie.com
Contact: [email protected]
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SOURCE Creditly Corp
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