StellarFi, a FinTech startup, has raised $15M in a venture round to help people build and enhance their credit scores. This recent development is the next step for the company to assist people around the world with their financial goals.
The company wishes to aid people in increasing their credit scores by helping them pay their bills and rent on time. They accomplish this by using the gamification model to make it easier to keep track of their expenditure. Customers receive weekly notifications on upcoming payments and receive reminders of their upcoming payment dates.
The company grew out of a group of four friends looking to make it easier for people to pay their bills, rent and other expenses with better control over budgeting. They designed a budget tracking application and began looking for investors within the venture space.
The company believes that by helping individuals pay bills and rent on time, they can make it more likely for people to gain access to more significant monetary opportunities. The money raised during their Series A round provides the opportunity to scale their operations, while also providing technological advancements to their existing services.
In addition to helping people build their credit scores, the company will be utilizing their funding to build a global network of partners that will allow customers to pay their bills both locally and abroad. This will help make it even easier for them to pay their rent and bills in time.
Overall, the company hopes to make it easier for individuals to manage their finances and gain easy access to credit. They believe that this will result in more financial freedom for their customers and that the additional capital will help them garner the resources necessary to make this vision a reality.