Credit Sesame

CreditSesame.com
Private
Industry Personal finance, Software, Financial technology
Founded 2010
Founder Adrian Nazari
Headquarters Mountain View, California
Area served
 United States
Products Credit scores, credit monitoring, identity theft protection, loans, credit cards, credit reports
Revenue N/A
Number of employees
 100
Website CreditSesame.com

Credit Sesame is an educational credit and personal finance website that provides consumers with a free credit score.[1] No credit card or subscription is required to register or obtain the credit score, which is updated monthly. More frequent credit score updates and other features, like 3 bureau credit monitoring, are offered at a cost.

Headquartered in Mountain View, Calif., Credit Sesame launched in private beta at TechCrunchDisrupt 2010.[2] As of April 2016, the company's registered users have a combined $100 billion in loans, which Credit Sesame monitors and analyzes for potential savings on a daily basis.[3]

As of April 2016, Credit Sesame has over 8 million accounts.[4]

Founder and financing

Credit Sesame was founded by Adrian Nazari, the company's chief executive officer, who previously co-founded Financial Crossing, Inc. and served as its president and CEO. He was also CEO and chairman of the board at Financial Circuit, Inc.[5]

In March 2011, Credit Sesame announced that it had closed a $6.15 million second round of funding, led by Menlo Ventures and Inventus Capital Partners.[6] The company closed an additional $12 million in funding in June 2012, and $16 million in May 2015.[7][8]

Analytics

Credit Sesame analyzes consumers' credit profiles based on the information in their TransUnion credit reports.[9] As soon as a consumer's profile is created, Credit Sesame begins analyzing their current loans (including mortgage and credit card accounts) and looks for alternative loans. The mortgage and refinance loans Credit Sesame finds for its users are personalized, based on each individual user's credit file, the estimated value of their home and the financial goals they have set up upon registration.

Lending 3.0

Credit Sesame announced the launch of new lending platform SnapLoan at LendIt USA in April 2016. SnapLoan accurately matches users with loans they are most qualified for, and simplifies the application process to just a few button clicks, similar to Amazon.com's "one-click" purchase option.[10]

See also

References

  1. ↑ Andriotis, Annamaria. "New Controversy for Credit Scores". SmartMoney.com. Retrieved 1 July 2011.
  2. ↑ Rao, Leena. "The List Of Startups Launching At TechCrunch Disrupt". TechCrunch.com. Retrieved 1 July 2011.
  3. ↑ Perez, Sarah. "Credit Sesame Adds Social Comparison Tools, Lets You See How Your Debt Compares With People Like You". Retrieved 13 July 2012.
  4. ↑ Brooks, Amber. "Credit Sesame Gives Free Credit Scores, Financial Tools, and has 8M Users". cardrates.com. Retrieved 2 September 2016.
  5. ↑ "EXECUTIVE PROFILE Adrian A. Nazari". Bloomberg Businessweek.
  6. ↑ McDermid, Riley. "Personal finance tool CreditSesame nabs $6.15M in new funding". VentureBeat.com. Retrieved 1 July 2011.
  7. ↑ Perez, Sarah. "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". TechCrunch. Retrieved 11 July 2012.
  8. ↑ Perez, Sarah. "Credit Monitoring And Debt Management Service Credit Sesame Raises $16 Million | TechCrunch". Retrieved 2017-06-16.
  9. ↑ "Credit Sesame Switching to Transunion - Doctor Of Credit". Doctor Of Credit. 2015-03-29. Retrieved 2017-06-16.
  10. ↑ Muhn, Julie. "Credit Sesame Launches SnapLoan, The Amazon One-Click for Consumer Loans". www.finovate.com. Retrieved 2016-04-11.
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