StellarFi ??

America’s credit score system is a paradox: you have to already have good credit to be able to build it. This former bank regulator turned FinTech CEO has a plan to change that, so the 150 million Americans with poor credit have a fair shot at the American dream:

This is my seventh episode of Money isn't Everything and one thing is already revealing itself in my interviews. I can't get enough of the idea backstories. This one -- from Lamine Zarrad -- is very striking. He's been the Hannah Montana of banking, working at the OCC while building a pot payments startup on weekends and evenings. Later in our chat, he goes on to say he felt compelled to do it. And that's the thing I relate to the most. I find myself in that scenario in any job I've ever worked. In fact, it's always my fav part... The ideas that build from a day job into some creative act maybe there, maybe not. We also get into what's going on at StellarFi ??, including but not limited to, buying and forgiving debt as a potential customer acquisition strategy. Catch the full episode on the pod platform of your choice: https://lnkd.in/dUEWNjkS #fintech #entrepeuners

Fiat Ventures talks to 2000+ founders per year. Founder DNA is everything. It takes a unique set of skills, experience and sheet grit to be successful. Lamine Zarrad of StellarFi ?? has all three. Lamine is a 3-time fintech founder. A refugee from the Soviet Republic of Azerbaijan to the US. Ex US Marine and Army Elite Unit. And One of the best Fintech Operators in the business. After leaving ZenBusiness where he sold his previous company Joust - we were one of Lamine's first calls. Over a two hour meeting in Austin Lamine told me about his new company and his vision to re-imagine consumer credit. His vision was clear: I want to build a credit builder platform that will improve the credit of the 100M+ Americans with subprime scores, are credit invisible and completely unscorable. That was 2 years ago. What have we learned thus far? Our instincts were right ?? And, founder DNA is everything ?? Today our Fiat Ventures and Fiat Growth teams are proud to highlight Stellarfi and it’s amazing progress. StellarFi?is a consumer app that helps build consumer credit with every bill you pay. By connecting your bills, Stellar pays on your behalf which reports these positive attributes to all major credit bureaus. This raises credit profile by 50+ points on average. Take a read and feel free to reach out to Lamine directly if you’re interested in partnering and/or learning more. https://lnkd.in/gSMNMYRt

America is also in the middle of a credit revolution ?? Here are some of the stats: ? 57 Million Americans (17.2%) have subprime credit scores ?????? 28 million Americans (8.5%) are “credit invisible” - lacking a mainstream credit profile ?? 21 Million Americans (6.3%) are considered completely unscorable Revolution’s tend to inspire radical innovation. The good news is that some of best founders in the fintech space are working to solve Americas credit challenges. At Fiat Ventures and Fiat Growth we're grateful to work alongside and back some of the companies leading the way. These include: ?? StellarFi ?? who are allowing consumers to build credit with each bill ?? Upside who let their customers build wealth with every loan payment ?? Possible who provides competitive micro loans to sub-prime consumers ?? Grain Technology (YC W20) that allows businesses to embed better underwriting and loan origination tools ?? Sawa that enables individuals the ability to save and build credit as a community The list goes on and on, but the results are the same... more transparent and cost competitive products for the 100 Million + Americans that live without access to basic financial tools. You can read more about the work these incredible teams are doing via the link below ?? A special thank you to those that are on the forefront of these positive changes including... Drew Glover Alex Harris Kristin Manoogian Victor Colombo Caitlin Keep Lamine Zarrad Vicki Apodaca, MBA Tony Huang Kevin Platshon Christian-Robert Joseph Andrew Henry Charles Phillips Kamran Hameed Adam Falls https://lnkd.in/gzps2R4y