Credit Sesame

Last updated
Credit Sesame, Inc.
Company type Private
Industry Personal finance, Software, Financial technology
Founded2010
FounderAdrian Nazari
Headquarters
Area served
 United States
Products Credit scores, credit monitoring, identity theft protection, loans, credit cards, credit reports
Number of employees
200
Website creditsesame.com

Credit Sesame is a credit and loan company. [1] Credit Sesame was launched in private beta at TechCrunch Disrupt 2010. [2] By 2012, the company claimed to monitor almost $35 billion in loans. [3]

Contents

Leadership

Credit Sesame was founded on April 1, 2010 [4] by Adrian Nazari, the company's chief executive officer. Nazari previously co-founded Financial Crossing, Inc. and served as both its president and its CEO. He was also the founder, CEO, and chairman of the board at Financial Circuit, Inc. [5]

On June 8, 2022, David Bagatelle became the Chief Banking Officer and Head of Banking and Credit Sesame. [6]

Product and services

As of 2018, Credit Sesame gives its members free access to credit score monitoring, credit reports, and identity protection tools. [7] [8] It also provides personalized recommendations regarding personal loans, home loans, student loans, credit cards, and refinancing opportunities that can help members improve their credit and spending power. [9] In 2017, Credit Sesame announced new robo advisory technology for consumers to automate their credit and loan management. [10]

Business model

Credit Sesame sometimes receives revenue from partners when a member acts on recommendations made for a product, such as new credit cards and loans. Revenue is also generated from its Premium Subscription Business as well as hosting targeted advertising from third parties and initiating loans to help manage billions of dollars in consumer debt. As of October 2018, Credit Sesame has managed over $2 billion in loans originating from its site. [11]

Funding

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. [12] The company closed an additional $12 million in funding in June 2012, and $16 million in May 2015. [13] [14] In October 2017, Credit Sesame announced that it raised more than $42 million in funding from investors (including Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital, and SF Capital). The company also announced reaching profitability in 2017, after achieving 3 straight years of 100% annual growth. [15]

In August 2019, Credit Sesame completed an additional round of funding totaling $43 million. [16]

Related Research Articles

<span class="mw-page-title-main">Capital One</span> Bank holding company headquartered in McLean, Virginia

Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States. It is the 12th largest bank in the United States by total assets as of 2022, the third largest issuer of Visa and Mastercard credit cards, and one of the largest car finance companies in the United States.

Benchmark is a venture capital firm founded in 1995 by Bob Kagle, Bruce Dunlevie, Andy Rachleff, Kevin Harvey, and Val Vaden.

<span class="mw-page-title-main">Accel (company)</span> Venture capital firm

Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional operating funds in London, India and China.

Credit Karma is an American multinational personal finance company founded in 2007. It has been a brand of Intuit since December 2020. It is best known as a free credit and financial management platform, but its features also include monitoring of unclaimed property databases and a tool to identify and dispute credit report errors. The company operates in the United States, Canada and the United Kingdom.

<span class="mw-page-title-main">Bain Capital Ventures</span> American venture capital division within Bain Capital

Bain Capital Ventures LLC is the venture capital division within Bain Capital, which has approximately $160 billion of assets under management worldwide. The firm's early-stage investments have included Attentive, Bloomreach, Billtrust, Docusign, Flywire, LinkedIn, Justworks, Turbonomic, Rent the Runway, Twilio, Rapid7, and Redis. Bain Capital Ventures manages $10 billion of committed capital, has over 400 active portfolio companies, and has offices in New York City, Palo Alto, and San Francisco.

Andreessen Horowitz is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. As of April 2023, Andreessen Horowitz ranks first on the list of venture capital firms by assets under management, with $35 billion as of March 2022.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American multinational financial services and SaaS company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

<span class="mw-page-title-main">Brandwatch</span> UK business

Brandwatch is a social media suite company owned by Cision. Brandwatch sells two different products: Consumer Intelligence and Social Media Management.

CircleUp is a financial technology company based in San Francisco that focuses on consumer goods startups. Since its official launch in April 2012, CircleUp has helped several consumer companies raise equity, including Back to the Roots, Halo Top Creamery, Little Duck Organics, Rhythm Superfoods and others. General Mills has an investment fund that is partnered with CircleUp to invest in companies listed on the platform.

<span class="mw-page-title-main">Balderton Capital</span> British venture capital firm

Balderton Capital is a venture capital firm based in London, UK, that invests in early-stage, technology and internet startup companies in Europe. It is considered to be among the four-biggest venture capital firms in the English capital.

SoFi Technologies, Inc. is an American online personal finance company and online bank. Based in San Francisco, SoFi provides financial products including student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.

Shasta Ventures is an early-stage venture capital investment firm located in Silicon Valley that invests in enterprise and technology consumer startups. It is located on Sand Hill Road in Menlo Park.

CapitalG Management Company LLC is the independent growth fund under Alphabet Inc. Founded in 2013, it focuses on larger, growth-stage technology companies, and invests for profit rather than strategically for Google. In addition to capital investment, CapitalG's approach includes giving portfolio companies access to Google's people, knowledge, and culture to support the companies' growth and offer them guidance.

Avant, LLC, formerly AvantCredit, is a private Chicago, Illinois-based company in the financial technology industry. The company was established in 2012 by serial entrepreneur Albert "Al" Goldstein, John Sun, and Paul Zhang. Initially structured as a mid-prime lender, the company issued its first personal unsecured loan in early 2013 using its proprietary technology to determine an individual's creditworthiness.

Runa Capital is an international venture capital firm headquartered in Luxembourg that invests in deep tech, enterprise software, and fintech infractructure early-stage startups. From 2010 through 2022, Runa Capital raised around $500 million in 4 funds and invested in over 100 companies in more than 14 countries of Europe and North America, including Nginx, MariaDB, Zopa, Brainly, drchrono, Smava, and Mambu.

LendKey is a lending platform and online marketplace that allows consumers to apply for and receive private student loans, student loan refinancing and home improvement loans from their local credit unions and community banks. LendKey's cloud-based tools and infrastructure enable the nation's 13,000+ community financial institutions to enter online lending and offer loans for various asset classes.

<span class="mw-page-title-main">Aileen Lee</span> American investor

Aileen Lee is a U.S. venture capital angel investor and co-founder of Cowboy Ventures.

Policybazaar is an Indian insurance aggregator and multinational financial technology company based in Gurgaon. The company was founded in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. It provides a digital platform—website and an app—where users can compare insurance policies and other financial services from major insurance companies. The company is India's largest insurance aggregator, and has expanded its operations to the United Arab Emirates.

Upgrade, Inc. is an American neobank founded in 2016. It has raised $600 million in equity funding and made over $10 billion in loans since its launch in 2017. Upgrade is headquartered in San Francisco, California with offices in Phoenix, Arizona and Montreal, Quebec, Canada. The company offers credit and banking products to consumers and delivers fixed-rate credit cards and loans. The company's other services include credit monitoring and education tools.

Tiger Global Management, LLC is an American investment firm founded by Chase Coleman III, a former Tiger Management employee under Julian Robertson, in March 2001. It mainly focuses on internet, software, consumer, and financial technology companies.

References

  1. ↑ "Credit Sesame: Credit and loan management platform". Silicon Valley Tours.
  2. ↑ "The List Of Startups Launching At TechCrunch Disrupt". TechCrunch. Leena Rao. 27 September 2010.
  3. ↑ "Credit Sesame Adds Social Comparison Tools, Lets You See How Your Debt Compares With People Like You". TechCrunch. Sarah Perez. Retrieved 13 July 2012.
  4. ↑ "CREDIT SESAME, INC". opencorporates.com. Retrieved 2019-09-27.
  5. ↑ "EXECUTIVE PROFILE Adrian A. Nazari". Bloomberg. Archived from the original on October 14, 2012. Retrieved 1 February 2019.
  6. ↑ https://www.linkedin.com/in/david-bagatelle-1781304?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAAAC6_-wB3GlXm1zdzrLSTDBjMmhTIpVZwQc&lipi=urn%3Ali%3Apage%3Ad_flagship3_feed%3BsjcI8kdIQES8YS6zPS%2F0cA%3D%3D&licu=urn%3Ali%3Acontrol%3Ad_flagship3_feed-actor_container&lici=Z1Bxj4WgYf%2BcCak9h%2BKXgA%3D%3D&original_referer= [ self-published source ]
  7. ↑ Pruser, Michael (2011-11-15). "Credit Sesame Review 2019: A Truly Free Credit Score". The Dough Roller. Retrieved 2019-09-27.
  8. ↑ "Get Your Free Credit Score - No Credit Card Required". Credit Sesame. Retrieved 2019-09-27.
  9. ↑ "Personal finance tool CreditSesame nabs $6.15M in new funding". Venture Beat. Riley McDermid. 9 March 2011. Retrieved 1 July 2011.
  10. ↑ Perez, Sarah (11 June 2012). "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". Tech Crunch. Retrieved 11 July 2012.
  11. ↑ Gorton, David. "How Credit Sesame Works and Makes Its Money". Investopedia. Retrieved 17 January 2019.
  12. ↑ "Personal finance tool CreditSesame nabs $6.15M in new funding". Venture Beat. Riley McDermid. 9 March 2011. Retrieved 1 July 2011.
  13. ↑ Perez, Sarah (11 June 2012). "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". Tech Crunch. Retrieved 11 July 2012.
  14. ↑ Perez, Sarah (12 May 2015). "Credit Monitoring And Debt Management Service Credit Sesame Raises $16 Million". TechCrunch. Retrieved 6 June 2017.
  15. ↑ Penn, David (25 October 2017). "Credit Sesame Raises More than $42 Million, Unveils Robo Advisor for Credit". Finovate. Retrieved 1 January 2019.
  16. ↑ "Credit Sesame, a platform for managing loans and credit scores, picks up $43M en route to IPO". TechCrunch. 30 August 2019. Retrieved 2019-09-25.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.