![]() The next step, says Chen, is developing other products that help customers improve their financial health, and eventually Kikoff plans to offer a deposit account and debit card. What you MUST know about KikOff Credit Apple Crider 21.1K subscribers Subscribe 27K views 1 year ago KikOff promises a way to build your credit with no fees and no interest. They do all this with 0 interest, no credit check and no fees. It allows you to credit builder loans and provide loans on the basis of bank statements and verification. The company says it will use the recently raised funds to build out its technology and team and bring new products to market. Kikoff is an online venture-capital platform that is funded and backed by various Silicon Valley’s savvy investors and some social investors. Chen says Kikoff has hundreds of thousands of users. Instead, it extends 750 lines of credit to most applicants. The company doesn’t issue conventional loans. The San Francisco-based lender was founded in 2019, and it doesn’t operate like a normal lender. The product quietly launched in December and gained users through word of mouth and app store searches. Kikoff is an online lender dedicated to helping people build and rebuild their credit. As a college student in the U.S., she worked hard at building her own credit. She grew up in Beijing, where she watched her parents borrow money to make large purchases and always repay their debt - but there was no credit system to reward their behavior. But they don’t have to share bank account details for credit analysis, which could suit customers who are hesitant to link their accounts.Ĭhen previously served as chief risk officer at Figure Technologies and held senior executive roles at Capital One and OnDeck. Applicants are screened using anti-money-laundering and know-your-customer checks, and must provide their Social Security number and cell phone number. Purchase the credit building service for just 5/month (with no additional fees or. It makes money off the difference between the prices it charges for items in its online store and the price it pays for them. If youre ready to build your credit, Kikoff is the easiest way to do it. ![]() There are also regular secured credit cards.Ĭhen says Kikoff is different because it doesn't charge interest or penalty fees. There are other credit-building tools on the market, such as Self Lender, and the credit card fintechs Petal and TomoCredit assess their customers’ creditworthiness by analyzing cash flow and other data.
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