Credit Genie bags $10m funding to redefine behavioural finance with AI

Credit Genie bags $10m funding to redefine behavioural finance with AI

Creditly, which operates as Credit Genie, a prominent digital personal finance platform catering to over one million Americans, has announced its most recent triumph.

The firm completed an additional fundraising round, pocketing a noteworthy $10m. This surge of capital elevates their total financing pot to an impressive $21m.

A major chunk of this recent financing round was channeled in by Khosla Ventures. Tippet Ventures also made a significant contribution, ensuring Credit Genie had the resources it needed.

Credit Genie isn’t your average financial platform. Its groundbreaking use of artificial intelligence (AI) and machine learning stands it apart. These technologies underpin the company’s approach, revolutionising risk management and personalised budgeting specifically for the financial middle class. By harnessing this tech, they offer accurate, bespoke financial insights tailored to individual needs, aiming to bolster overall financial health.

With an aspiration to assist countless individuals, Credit Genie strives to provide access to efficient and fair credit. Their avant-garde technology delves deep, examining a plethora of data points including behavioural trends, chat responses, and qualitative indicators. This comprehensive analysis recognises a person’s ambition to uplift their financial standing. The results? More precise insights and predictions than traditional credit assessments. Furthermore, their system identifies patterns and foretells credit risks, leading to spot-on credit scores and informed lending decisions.

Credit Genie founder Ed Harycki commented on the company’s ethos, “Our mission is to provide accessible financial products and services that help people improve their financial wellness. We aim to provide a more inclusive and fair credit system, regardless of income level or credit history, that empowers people to achieve their financial goals.”

Echoing this sentiment, David Weiden from Khosla Ventures added, “Millions of Americans have a challenge in managing their cash flows to understand how best to leverage their financial situation. Credit Genie’s AI-powered system allows consumers to analyse their cash flow and get financial insights and credit-related services to better manage their households.”

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