Stellar Closes $7M in Funding

Stellar

Stellar, an Austin, TX-based Public Benefit Corporation that provides access to credit-building and financial tools to underserved communities, raised $7M in funding.

The round was led by Acrew Capital and Trust Ventures with participation from Accomplice Ventures, Fiat Ventures, Vera Equity, Permit Ventures, Kindergarten Ventures, and angel investors.

The company intends to use the funds to launch its financial platform.

Led by CEO Lamine Zarrad, who previously founded a neobank for independent professionals, Joust, which was acquired in 2020 by ZenBusiness, Stellar is on a mission to open access to credit to the 132 million Americans who currently have poor credit or no credit. The company empowers users to increase their credit scores using their everyday bills and payments such as rent and utilities, which Stellar reports directly to the three main credit bureaus.

In addition to credit building and bill consolidation within the app, users will have the ability to receive rewards and cash back to apply directly to their connected bills, keeping more money in their pockets. 

It will launch its public beta on March 14th, 2022 in Austin, Texas.

FinSMEs

15/03/2022