Mobile app auto refi
Its a mobile app that helps low to moderate income consumers refinance their high interest auto loans. We use alternative credit scoring to connect users to lenders. The goal is to free up income allowing for greater financial freedom
"Empowering financial freedom by refinancing high-interest auto loans, utilizing alternate credit scoring to connect borrowers and lenders."
low to moderate income workers, who have used auto loans
Your startup can solve high interest rates on auto loans, poor refinance options for low to moderate income consumers and lack of financial freedom due to heavy debt burdens.
many low to moderate income workers are weighed down by high interest auto loans, impacting their financial security and cash flow.
Creating a mobile application that simplifies auto loan refinancing can be an effective solution. The app should be user-friendly, offer personalized loan options
Artificial Intelligence, Machine Learning, Blockchain for secure transactions, Mobile App Development.
AI/ML leverages pre-trained models for in-depth analysis of conventional and alternative credit data, determining individual's repayment capacity. It allocates a risk model and connects the user with suitable lenders.
"Revamp your finances with our auto-refi app. Save money, reduce debt and enhance financial freedom by refinancing high-interest car loans."
We estimate the market size for which our solution is designed in monetary terms as follows
Is our goal in the next 3 years
My key role is Director of Innovation and I'm responsible for product feasibility studies and the development of a minimum viable product.
Melissa Gopnik - VP of Innovation, Theo Vaughn-Director of Product, Rosie Silber-Marker-Research, Ilinca Munteanu-Market Research
Other potential competitors may include traditional banks offering auto loans, other fintech firms focused on refinancing, and peer-to-peer lending platforms.
Leveraging our unique insight as a social enterprise, we excel in meeting the distinct needs of low to moderate-income consumers, driving economic equality through innovative solutions.
we make money on a service fee per loan closed. It is a 2% service charge after the loan is underwritten
Currently evolving in our product's development journey, we continue to explore innovative solutions and opportunities.
Currently, we do not track any specific product metrics. Going forward, our focus will be on user engagement levels, customer acquisition costs and lifetime value of customers to understand the effectiveness of strategies in place.
Our company incorporated in
Main risks could include lack of customer trust in sharing sensitive financial data, inability to secure low-rate refinancing options consistently, navigating complex legal and regulatory issues, competition from traditional financial institutions or other fintech startups.
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We raised investments
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Currently, we are raising investments
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Estimated pre-investment valuation of the company
We provide financial solutions to employees, offering marketplace insights. Our focus is debt elimination and financial security via strategic collaboration, human guidance, and revolutionary service innovation.