Grow Credit, a minority-led startup financial inclusion platform, today announced that Mucker Capital, a Santa Monica-based fund, has joined its seed funding round, bringing its total seed investment total to $2M.
The fund joins other prominent investors, including Jason Robins, CEO and Founder at Draftkings; Sebastien Deguy, VP of 3D at Adobe; and NFL Hall of Famer and Super Bowl champion Ronnie Lott.
Grow is the first platform in the United States to enable consumers to establish or build their credit score for free using new or existing subscriptions including HBO Max, Disney Plus, Netflix, Spotify, and many more. The platform also helps consumers establish or build credit using cellphone bills from AT&T, Verizon, Sprint, and T-Mobile.
“In the current market environment, more consumers than ever will need to build or rebuild their credit score,” said Joe Bayen, CEO and founder at Grow Credit, “that is why we are thrilled that the Mucker team has embraced our vision to create a more inclusive society, through our financial inclusion platform.”
Mucker has had an impressive success record in the Fintech space. Honey, one of their portfolio companies which they seed-funded, was acquired by PayPal for $4B this past November.
Erik Rannala, founder at Mucker Capital, adds that “Grow Credit levels the personal finance playing field for regular, everyday people and creates a more comprehensive view of a consumer’s credit. When people pay their cellphone bills or their Netflix bills on time every month, why shouldn’t that be reflected positively on their credit? We couldn’t be happier to support Joe and Grow Credit standing up for consumers to help them build a stronger financial future for themselves and their families.”
The mobile application is currently available on Apple’s iOS and Google’s Android devices.
Found out more about Grow Credit at www.GrowCredit.com
About Grow Credit Inc.
Grow Credit’s innovative credit building service lowers the barrier of entry for millions of Americans who need to establish and build credit. Combining a small-dollar loan with a virtual Mastercard, the service manages subscription payments, such as Netflix, and reports loan balances to the credit bureaus. The Mastercard is issued through Sutton Bank and is exclusively designed to process subscription payments. The company is based in Santa Monica and was founded in 2018 by financial industry veterans. Learn more at www.GrowCredit.com.
About Mucker Capital
Mucker Capital invests in seed and “pre-seed” stage companies building defensible and scalable Internet software and services businesses outside Silicon Valley. The firm partners with exceptional entrepreneurs to provide their earliest institutional funding and works with them side-by-side to help launch and scale their new ventures. It is Mucker’s conviction that it must provide more than just capital. As operators and entrepreneurs themselves, Mucker’s partners roll up their sleeves and work with entrepreneurs in all parts of their businesses that need additional resources –- product development, customer development, business development, operational infrastructure, recruiting and fundraising.