eCredable

eCredable is a disruptive force in the financial services and fintech industry, founded in 2009 with its headquarters in the United States. The company's mission is encapsulated by its slogan, "Build credit as easy as paying your bills." eCredable is tackling the challenge associated with credit scores and the hindrance of a lack of information affecting credit approval. The company is pioneering the era of "user permissioned data" by empowering both consumers and small business owners to add information to their credit files. For consumers, eCredable provides a platform where they can opt-in to share their online account payment histories for phone, internet, and utility accounts. This information, often not available in major credit files, has proven to be predictive for risk assessment. eCredable creates FCRA compliant tradelines suitable for consumption by consumer credit bureaus and lenders. In the case of small business owners, eCredable enables them to share their online account payment histories, particularly beneficial for start-ups and young companies with limited business credit history. The company reports this information to the Experian Business Credit File, influencing the associated Experian Business Credit Score. Notably, eCredable is actively seeking relationships with issuers of business credit cards to build a Marketplace of business credit card offers based on this score. The company received non-equity assistance investment from MassChallenge in December 17, 2020. This strategic partnership can potentially propel eCredable's ambitious vision forward. Overall, eCredable's innovative approach to credit scoring and its strategic partnerships set the stage for potential disruption in the financial services and fintech industries.