Fintech startup raises $500,000 from new partnership with world-class accelerator, Y Combinator
CHICAGO, IL (May 17, 2022) — Cambio, a consumer financial rebuilding platform, announced today that it has received a $500k investment from Y Combinator (YC) and will participate in its Summer 2022 batch. With a 1.5% acceptance rate, Y Combinator is the world’s most prestigious tech startup accelerator, partnering with over 3,500 companies that are worth more than $1 Trillion.
This announcement further validates Cambio’s mission of enabling consumers with credit scores below 650 to get ahead today while building for tomorrow. Cambio is a mobile app that helps consumers with poor credit scores resolve bad credit items, build credit through a 0% interest loan, and provides access to affordable refinancing opportunities. Cambio members receive daily guidance and updates that help them navigate the complex US credit system.
“We are honored to be a part of the Y Combinator Summer 2022 cohort,” said Blesson Abraham, CEO and Founder of Cambio. “Our platform provides 100 million consumers with debt in collections, the hand up they need to rebuild their finances. We are excited to utilize the resources of YC to accelerate the growth and impact of Cambio.”
The growth-focused Y Combinator program begins in June and ends with YC Demo Days in September.