Creditable

wealthtech-retailpersonal finance managementartificial intelligence / machine learningb2b fintechexpense management

STATUS: Closed
FOUNDING YEAR: 2010
LOCATION: United States
Last Update: 19/01/2021

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About

Creditable is a cloud based financial tool that enables caring employers to offer financial wellness products to their employees. A third of an employees life is spent with an employer. When our personal financial well being is compromised, the company we work for also loses. Our services include savings and loan products. Creditable is the first truly SaaS pay-as-you-use tool and it is the only product that uses bank data aggregation to assess credit risk and affordability. In addition, we offer a personal financial management tool along with loans and savings products. Employers and employees alike gain from Creditable's fair, professional & transparent loaning. Learn more about us here: https://www.youtube.com/watch?v=Gg4_Sjz7jv8

MEDICI Analysis

Creditable provides software for employers to extend credit to their employees or monitor their credit health. It helps their employees to apply for loans against their wage or request a deduction in their wages as a savings plan.

Focus

PRODUCTS & SERVICES

Creditable is a developer of cloud based financial application which is designed to fit into existing payroll processes for making salary deductions. It helps the credit unions, lenders, businesses and individuals to give loans to their customers, employees, suppliers and family professionally instantly and also enables employees to improve overall savings and spending habits.

REVENUE MODEL

Has different price plans for different business. For start ups -$149/mo + $2.50 per loan/saving per month, National -$499/mo+ $2.50 per loan/saving per month, International -$1500/mo + $2.50 per loan/saving per month

MAIN CLIENTS

Retail consumers and lenders

COMMENT

The company's aims to make credit more affordable, accessible, transparent and inclusive, and to re-imagine and re-engineer societal behaviour around credit. (Jul. 2014)

People

FOUNDERS

Sechaba Ngwenya

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Nest

Startupbootcamp

Startupbootcamp FinTech London

KEY EMPLOYEES:

Neo Motlhabane(Director)

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$20.29 K

DATE OF LAST FUNDING

Jul 2014

IPO STATUS

Private

SEED & PRIOR FUNDING

$20.29 K

SEED CLOSED ON

Jul 2014

LISTED

NO

company provided insights
Web Traffic

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Innovation Programs

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