Credit Sesame

From Wikipedia, the free encyclopedia
Not to be confused with Sesame Credit.
Credit Sesame, Inc.
TypePrivate
IndustryPersonal finance, Software, Financial technology
Founded2010
FounderAdrian Nazari
Headquarters
Area served
United States
ProductsCredit scores, credit monitoring, , loans, credit cards, credit reports
Number of employees
200
WebsiteCreditSesame.com

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

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]

Product and services[]

As of 2018, Credit Sesame gives its members free access to credit score monitoring, credit reports, and identity protection tools.[6][7] 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.[8] In 2017, Credit Sesame announced new robo advisory technology for consumers to automate their credit and loan management.[9]

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.[10]

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.[11] The company closed an additional $12 million in funding in June 2012, and $16 million in May 2015.[12][13] 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.[14]

In August 2019, Credit Sesame completed an additional round of funding totaling $43 million.[15]

References[]

  1. ^ "Credit Sesame: Credit and loan management platform". Silicon Valley Tours.
  2. ^ "The List Of Startups Launching At TechCrunch Disrupt". TechCrunch. Leena Rao.
  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. Retrieved 1 February 2019.
  6. ^ Pruser, Michael (2011-11-15). "Credit Sesame Review 2019: A Truly Free Credit Score". The Dough Roller. Retrieved 2019-09-27.
  7. ^ "Get Your Free Credit Score - No Credit Card Required". Credit Sesame. Retrieved 2019-09-27.
  8. ^ "Personal finance tool CreditSesame nabs $6.15M in new funding". Venture Beat. Riley McDermid. Retrieved 1 July 2011.
  9. ^ Perez, Sarah. "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". Tech Crunch. Retrieved 11 July 2012.
  10. ^ Gorton, David. "How Credit Sesame Works and Makes Its Money". Investopedia. Retrieved 17 January 2019.
  11. ^ "Personal finance tool CreditSesame nabs $6.15M in new funding". Venture Beat. Riley McDermid. Retrieved 1 July 2011.
  12. ^ Perez, Sarah. "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". Tech Crunch. Retrieved 11 July 2012.
  13. ^ Perez, Sarah. "Credit Monitoring And Debt Management Service Credit Sesame Raises $16 Million". TechCrunch. Retrieved 6 June 2017.
  14. ^ Penn, David. "Credit Sesame Raises More than $42 Million, Unveils Robo Advisor for Credit". Finovate. Retrieved 1 January 2019.
  15. ^ "Credit Sesame, a platform for managing loans and credit scores, picks up $43M en route to IPO". TechCrunch. Retrieved 2019-09-25.
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