How they describe themselves: Think Finance’s technology and analytics platform powers online financial products that bridge the gap between payday loans and credit cards. These products, offered directly by Think Finance or through banks and non-bank lenders, have provided $3.5B in credit to 1.5M consumers. Think Finance is privately held and is backed by some of Silicon Valley’s most respected venture capital firms including Sequoia Capital and Technology Crossover Ventures. The company was named No. 2 on Forbes’ America’s Most Promising Companies list for 2013.
How they describe their product/innovation: elastic is a new line of credit product for employees that is linked to payroll systems. The software-driven solution seamlessly integrates with payroll software platforms, reducing the cost and risk of providing cash advances. The savings are passed on to employees in the form of lower costs as compared to overdraft fees and alternative emergency cash products. Once an employer signs up, the employee manages the rest of the process online. elastic provides flexible and affordable payment options and loans can be repaid via direct deposit using the payroll system.
Product Distribution Strategy: Direct to Consumer (B2C), Direct to Business (B2B), & through financial institutions
Bus. Dev.: Kathy Boden Holland, EVP Corporate Development
Press: Kelly Ann Doherty, Corporate Communications Director, firstname.lastname@example.org, 817-546-2650 & Emily Serafin, ICR Account Director, email@example.com, 646-277-1245
Sales: Marcus Oldelehr, elastic VP Bus. Dev.