We recently met a development milestone when Cedar launched the beta trial for its platform to validate consumer onboarding and bank connection. We onboarded the first users on February 1, 2021. Cedar was able to successfully validate data collection and bank connectivity with no critical bugs. With beta onboarding taking approximately three minutes, users are most notably reporting their delight in the ease of signup.

What does this mean for Cedar?

Cedar’s beta trial validates the vital bank connections which captures data needed to support each consumer on an individual basis. With the successful connection and collection, Cedar now has the production data needed to finalize onboarding with the credit bureaus and roll out the Cedar HUB Version 1.0.

What’s in it for the Beta Users?

Beta users were randomly selected from a list of waitlisted consumers. Each user gains the opportunity to use the Cedar Credit Builder free for 12 months upon its launch in June. Additionally, we’d like to thank these early adapters for helping us build the future of personal finance by sending them some exclusive Cedar swag!

About the Products

Cedar Credit instaBoost is the first step in the credit building experience by Cedar. Consumers deserve credit for all on-time payments, and the instaBoost product builds their credit by retroactively reporting eligible rent and bill payments to the credit bureaus.

The Cedar HUB is the Sun to each user’s financial solar system. Powered by their financial successes, users can track their credit score, review their spending habits, build a budget, and set goals for financial success. Cedar HUB will grow alongside each user and continually provide them with the resources and recommendations needed to live the life they deserve.

What comes next?

• The Cedar Team will close out the onboarding with the credit bureaus and polish the Cedar HUB for user application
• Expanded beta launch of Cedar Credit instaBoost and Cedar HUB are slated for April 1, 2021
• With the move to a public Wefunder raise made on February 5, the WeFunder campaign will continue to gain traction.

The Cedar Family would like to thank each of our beta users, early bird Investors, and our strategic partners for your invaluable support. Just as we believe that Cedar will soon improve millions of lives, we believe you are each playing an important role in building the future of personal finance!