CHICAGO, May 17, 2022 (GLOBE NEWSWIRE) — Cambio, a consumer financial rebuilding platform, today announced that it has received a $500,000 investment from Y Combinator (YC) and will participate in its summer 2022 batch. With an acceptance rate of 1.5%, Y Combinator is the world’s most prestigious tech startup accelerator, partnering with over 3,500 companies worth over $600 billion .
This announcement further validates Cambio’s mission of enabling consumers with credit scores below 650 to get ahead today while building for tomorrow. Cambio is a mobile app that helps consumers with bad credit resolve credit issues, build credit through a 0% interest rate loan, and access affordable refinance opportunities. Cambio members receive tips and daily updates that help them navigate the complex US credit system.
“We are honored to be part of the Y Combinator Summer 2022 cohort,” said Blesson Abraham, CEO and Founder of Cambio. “Our platform gives 100 million consumers with debt in collection the helping hand they need to rebuild their finances. We are excited to use YC’s resources to accelerate Cambio’s growth and impact.”
The growth-focused Y Combinator program begins in June and ends with YC Demo Days in September.
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Cambio is a mobile application that enables its members to improve their credit scores and access affordable credit so they can achieve financial freedom. What started as a simple idea to help non-banking Americans save money at check boxes has turned into a movement where people from all walks of life can invest in themselves and escape the pain that comes with damaged credit. Follow @cambiomoney on Instagram, Facebook, Twitter, Tik Tok and LinkedIn, or visit www.cambiomoney.com to learn more.
Y Combinator (YC) is a startup accelerator program and investment fund that supports founders every step of the way. Since 2005, more than 3,500 companies have taken part in the accelerator. Today, these companies have an aggregate valuation approaching $600 billion. DoorDash, Stripe, Segment, Coinbase, GitLab, and Brex are all from the Y Combinator accelerator program. For more information about Y Combinator, visit www.ycombinator.com
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