Cambio (YC S22)

Mobile app helping financially responsible consumers repair bad credit

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Highlights

Y Combinator

Raised from Y Combinator

1
7 in 10 users improve scores in the first month
2
$17k MRR, growing 50% MoM, 10k total users
3
Serial entrepreneurs with previous exit
4
US household debt grew to $16T in 2022, compared to $14T in 2019

Our Team

Blesson AbrahamCo-Founder & CEO
2x fintech founder, founded SavvyIntel and exited successfully in 2017 to Cuna Mutual Group. He started his career in retail banking and went on to lead marketing, sales and helped start their analytics team for 15 years.
Jay PatelCo-Founder & CTO
2x mobile app founder. In 2020 he started the non-profit social-justice app FireWatch and grew it to 12k users. He leads the development and engineering efforts at Cambio.

Pitch

Cambio makes financial rebuilding simple and affordable for the 68 million consumers with a credit score below 650.

The problem:

  • Having an item in collections can keep your credit score below 650 for 7 years
  • It’s a 2-4 year complex process to get these items resolved and to show positive credit history
  • Consumers spend an extra $1,500 annually on credit repair services

Introducing Cambio:

Our platform helps consumers take immediate action to repair their credit.

  1. We do a soft pull of the users credit
  2. Identify negative items on credit reports
  3. Dispute/settle items to improve their credit scores
  4. Refinance overpriced auto loans

7 in 10 members see a credit score improvement in the first 30 days, by an average of 32 points.



(Experian, Urban.com)

Why we built Cambio:

In 2014, I co-founded SavvyIntel, we bootstrapped and I went into debt to keep the business afloat. In 6 months, I went from having a 780+ credit score to going into collections and having my credit score drop into the 570s. SavvyIntel got acquired in 2017, it still took me 4 years to rebuild my credit back to 780. We know the pain and want to make it easier for consumers to get ahead financially.





Overview