Best Egg Turns 10

This year marks a significant milestone in our company’s journey—a decade since the launch of Best Egg.

We celebrated this important milestone at our recent Quarterly Business Review (QBR). It was great to look back on the 10 amazing years since we connected with our first customer and transformed from a fledgling start-up into a leading multi-product fintech.

Hatching Our Plan

Our story began in 2013 in a room little bigger than a closet in Concord Plaza (Wilmington, Delaware)—a space that symbolized our humble beginnings but big ambitions. It was there that a really small team embarked on a mission to build a better fintech option—one that offered more accessible personal loans to consumers overlooked by traditional banks post-2008 Great Recession.

Leveraging our financial services expertise?and a commitment to making a difference, we launched Best Egg in March 2014. We focused on:

• Taking advantage of a market opportunity – banks had completely abandoned loan products in the financial crisis and left the door wide open.
• Making it a great place to work without the bureaucracy and politics of the big banks.

We anchored Best Egg around providing speed, flexibility, market-leading credit performance, and a fast and frictionless online experience for people who felt left out by traditional banks. The name "Best Egg" symbolizes building a nest egg and our goal of providing people with a judgment-free financial safety net.

Best Egg’s initial squad, a crew of 11, proved that what we lacked in numbers, we made up for in determination. Our first direct mail campaign, which felt like a giant leap into the unknown, resulted in $550,000 in loan originations. We were checking every hour for a week waiting for that first customer.

From Survival to Success

In the early days, our focus was squarely on proving worth to investors. This approach not only helped us secure the capital needed to lend to consumers but also laid the groundwork for our market-leading credit performance and innovative loan allocation model.

However, as we matured, our focus shifted toward our customers, particularly those with limited savings—a demographic often overlooked yet desperately needing supportive financial solutions. We became relentlessly focused on understanding their needs and designing products to help them manage their money better and feel more financially stable and confident. This pivot wasn’t just strategic; it was personal. We recognized the importance of being more than just a lender. We became driven by a mission to provide flexible solutions to help people with limited savings confidently navigate their everyday financial lives.

We evolved into a multi-product platform focused on providing flexible solutions for those with limited savings. This approach has allowed us to meet a broader range of customer needs, from consolidating debt to building credit and enhancing financial health. On top of our core secured and unsecured personal loan products, we also added a credit card, financial health tools, a vehicle equity loan, and a flexible rent solution.

Cultivating an Award-Winning Culture

Our culture, characterized by transparency, never being satisfied, valuing our people, and, yes, a bit of fun, has been instrumental in our growth. We've built an environment where top talent thrives, drawn by our commitment to making a real difference in people’s lives. This dedication has not gone unnoticed, as evidenced by our awards over the past year, including being named one of Newsweek’s Top 100 Most Loved Workplaces and Delaware’s Top Workplace two year’s in a row.

Navigating Through Challenges

Our journey hasn't been without challenges, from economic downturns to the unprecedented global pandemic. Yet, our ability to adapt and come out stronger on the other side speaks volumes about the resilience and dedication of our team.

In March, we reached new heights by crossing the $30 billion mark in loan originations. And the recognition we’ve received from organizations like Inc. 5000, J.D. Power, NerdWallet, and ConsumerAffairs not only highlights our industry leadership but also reflects the trust and satisfaction of our customers and the hard work of our exceptional team.

Looking Forward with Excitement

We are excited as we approach the beginning of a new decade. Our plans to expand our product offerings and broaden our impact are taking shape, and Best Egg’s future looks bright. Our dedication to our customers is undeniable, and we remain committed to creating an amazing workplace culture.

?On this 10th anniversary, we extend our deepest gratitude to everyone who has been a part of our journey—the team members who’ve been with us since those early days in that cramped office, our customers who trust us with their financial dreams, and our partners who’ve supported us every step of the way. Here's to another decade of growth, innovation, and success.

?And special thanks to the original crew from 2014; it’s exciting to see several still with us today, contributing to our ever-evolving story. Thank you Michael Callanan , Jason Castaldi, Brian Conneen , Donnie Culler , Sabrina DeVito , Kyle Leach , Erick Malmgren , Doug Mihalow , Dana Naccarelli , Evgeny Pogorelov, MBA , Alex Rhodes , Beth Leube Strock, CFA , Paul Ricci , Bobby Ritterbeck , Rich Stahler , Jason Swift , Mike Urban , and Jennifer Zuck .

Let's continue to “crack open” the possibilities and make the next ten years even more extraordinary!