Nevly, a fintech startup founded in 2021, has just raised $10 million in seed funding. The company aims to empower financially underserved consumers by offering innovative financial products and services designed to help people improve their financial health and achieve financial freedom.
With a focus on community and individualized solutions, Nevly provides a new approach to financial institutions, offering a pathway to wealth generation that is built on solid foundations and tailored to each consumer’s unique needs.
This latest funding round will be used to further Nevly’s mission of “Doing Money Different.” The funds will help the company grow its team and customer base, as well as support product development efforts. Nevly plans to continue designing products that are in line with its mission and values, which emphasize community, financial empowerment, and a different approach to doing money.
With this new funding, Nevly is well positioned to make a significant impact in the fintech industry and bring its unique approach to financial services to more people. The company’s CEO and founder, Robert Cornish, expressed excitement about the future, saying “We have a very aggressive application that we’re building and the funds enable us to do that.”
Ben Narasin, General Partner of Tenacity Venture Capital, highlights the potential of the credit repair industry, which is worth $4.4 billion in revenue and has almost five million Americans utilizing credit repair services in 2022. He sees a need for disruption in the industry and believes that Nevly can address the issues by automating credit repair and incorporating additional services, such as past and future rent reporting and a no-qualification credit builder card, enabling consumers to improve their credit score with less time and money spent.