![]() ![]() For more information about Purpose Built visit our website. If you enjoyed this episode, please subscribe and leave a rating and review on your favorite podcast listening app.ĭon’t forget to visit our website, connect with Miles on Twitter or LinkedIn, and share your favorite episodes across social media. Thanks for tuning into today’s episode of Startups For Good with your host, Miles Lasater. Subscribe, Rate & Share Your Favorite Episodes! Trade offs in managing mission and the productĬonnect with Tony on LinkedIn or through the Possible Financial Website.At Possible, we believe financial health is something everyone. “We wanted to create value for customers and for society overall.” - Tony Huang Possible brings financial fairness to underserved communities. We talk about trade offs between short term profits and long term mission, product design with mission in mind his personal journey and the consumer debt market in the US. Tony joins me today to discuss how within two weeks of announcing the new credit card product, they have over 175,000 people on the waitlist. Possible is a fully distributed company with team members all across the globe, and Tony has spent the past 18 months as a digital nomad living in various cities across the country. Prior to founding Possible, Tony and his co-founders collectively spent 26 years building body cameras for cops. Possible’s lead investors are Union Square Ventures, Euclidean Capital (Jim Simons’s family office), Canvas Ventures, and Unlock Ventures. They designed this product so that they never make money from customers being stuck in vicious debt cycles which is unfortunately all too common for subprime credit cardholders. Recently, Possible announced the Possible Card, an unsecured credit card without interest fees or late fees, just one flat monthly fee. Since 2019, Possible has provided small dollar installment loans to over 500,000 Americans to help them cover emergency expenses and build credit history. At Possible, we’re fighting for financial fairness on behalf of everyday people.Tony Huang is the Co-founder & CEO of Possible Finance, a consumer fintech company focused on improving the financial health of lower-income Americans. No one is giving hardworking Americans a fair deal. Wealth is concentrated in the hands of a few, and access to financial opportunity is unequally distributed. ![]() Where banks have abandoned lower-income communities altogether, payday lenders are trapping people in vicious debt cycles. Big banks gouge $25B in punitive fees from people who need that money most. We created Possible Finance because hardworking Americans are being taken advantage of by the existing financial system. Together, let's make financial services fair for all.Īfter working for a decade pioneering technology behind police body cameras, our founders were no strangers to fighting for fairness and equality for lower-income & minority communities. We’ll always put you first and earn your trust. We promise to be transparent, serve you with kindness, be responsible, and hold ourselves accountable to creating positive change. We’re committed to empowering you with the tools to better your economic situation. We meet our customer’s immediate financial needs today while guiding them towards a better tomorrow as we improve their financial well-being.Īt Possible, we believe financial health is something all Americans deserve, not just the affluent. Possible Finance has built a unique credit assessment model that leverages new data sources to effectively stratify risk for credit-challenged individuals. Applying takes under a minute and anyone can apply since there is no credit check.Īll of this is made possible through our technology and unique data algorithms. Through our mobile app, Possible Finance provides a friendlier alternative to payday loans that’s less expensive, easier to repay, and builds credit. Possible Finance is a technology company that provides people with the financial tools to overcome day-to-day challenges, protect themselves in an emergency, and build towards a better future. ![]()
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