A digitized rotational savings group mobile app that helps users build savings, commit to a savings plan, and make significant purchases. They make money on transaction and subscription fees, partner ads, and direct sales/commissions from partners on the platform
Communities around the globe participate in rotational savings groups for various reasons but face issues with:
Payment tracking (usually done by one member of the group) is burdensome and opaque to members
On-time payments made by group members are not reported to credit bureaus to help build credit worthiness
There’s no insurance for missing payments
Rotation savings groups account for more than $200B worldwide.
1200 registrants to the platform (pre-launch) all obtained through organic SEO traffic
In talks with Equifax and Transunion on building out the credit reporting component of the platform
Team is intimately familiar with this space as they are from practicing communities.
