Creditly Corp., dba Credit Genie, a digital personal finance platform, completed an additional funding round, securing $10 million in capital, bringing its total financing to $21 million. In connection with the latest round of financing, Credit Genie also secured a credit facility with affiliates of Fortress Investment Group to help it finance its cash advance and credit card receivables.
The funding round was led by Khosla Ventures, with participation from Tippet Ventures. With the new funding, Credit Genie will expand its product line and hire talent to scale its approach to behavioral finance, budgeting and cash/credit management.
“Our mission is to provide accessible financial products and services that help people improve their financial wellness,” Ed Harycki, founder of Credit Genie, said. “We aim to provide a more inclusive and fair credit system, regardless of income level or credit history, that empowers people to achieve their financial goals.”
“Millions of Americans have a challenge in managing their cash flows to understand how best to leverage their financial situation,” David Weiden of Khosla Ventures said. “Credit Genie’s AI-powered system allows consumers to analyze their cash flow and get financial insights and credit-related services to better manage their households.”
