Credit Genie Raises $4M in Series A Financing
Summary
In connection with the Series A financing, Credit Genie has also secured a credit facility with affiliates of Fortress Investment Group, to help it finance its cash advance and credit card receivables. The company intends to use the funds to expand products and hire talent. Founded by Ed Harycki, Credit Genie provides a mobile platform delivers financial insights and credit-related services that use personal transaction data instead of traditional credit data to extract financial intents and desires behind the transactions. From a single app, members can get a snapshot of their financial lives and have access to personalized tips and products to build and improve their credit. The platform also utilizes machine learning and AI algorithms as well as “Open AI” to identify patterns and predict credit risk, resulting in accurate credit scores and improved lending decisions.