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TrustFund

TrustFund is the first ever debit card that acts like a credit card when emergencies arise. More than 50% of Americans do not have enough in savings to cover a $500 unplanned expense. For the third of American adults with subprime credit they have to resort to options like payday, title loans and pawn shops which boast Avg APRs north of 400% when needing to access cash fast. TrustFund is platform that provides clients the tools & features they need to achieve their goals in addition to the support they need to keep them on track when they hit a bump in the road.
Dallas

About TrustFund

TrustFund is a fintech startup on a mission to disrupt payday/title lending. We have developed the first debit card that acts like a credit card when emergencies arise. By clients using the card for transactions and mobile app for planning/budgeting/savings they develop a TrustFund score, a clean slate credit score that measures financial health in a more real-time fashion. As their score increases they unlock benefits like emergency loans, auto refinancing and our in-house credit products like bridge credit, rent-split and quick floats.

Tagged with

FinanceFintech

Problem statement

The current payday loan atmosphere for the disadvantaged and lower socioeconomic demographic today puts an additional constraint when a personal emergency arises, leaving unreasonable interest rates and personal unnecessary duress.

Traction information

Raised $500k from institutional VC partners. Recently launched and already have 800 registered users on their platform. Successfully launched and proved out proof-of-concept pilot with 12 non-profit organizations in Dallas, TX.

Updates

Profile created.
Added about 3 years ago
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