A startup company looking to reinvent the way people can build their credit scores has landed a hefty $15 million investment. StellarFi, the fintech startup based in the U.S., recently raised the rounds of capital from venture capital firm 8VC, Evo Payments International and Next Coast Ventures, as well as from individual investors such as Ashton Kutcher’s Sound Ventures.
The funds will reportedly be used to help StellarFi expand its service offerings and to invest in technology and talent.
The primary goal of the startup is to equip people with the tools and information to build a good credit score and financial health. To do this, StellarFi recently launched a rent and bill pay platform to help individuals pay their rent on time and pay bills on time in order to build their credit scores.
According to StellarFi, rent and bills payments are an important part of building a solid credit score and financial well-being. Typically, rent and bills payments do not show up on credit reports or credit scores. stellarFi’s platform, however, will track users’ rent and payments and then report them to major credit bureaus so that they can be reflected in their credit scores.
What’s more, in addition to helping individuals build credit scores, the company is also looking to tackle the issue of financial literacy. Their platform includes a suite of educational content including articles, videos and interactive tools that aim to equip users with the tools and knowledge needed to secure a successful financial future.
Thus, StellarFi is aiming to become an important player in the credit score building and financial literacy space, and the new $15 million investment should undoubtedly help them achieve this goal. With these resources, the startup is sure to change how individuals build their credit scores and financial health.