Update: Our funding announcement was featured on TechCrunch.
1 out of 3 Americans struggle with their credit card balances, that’s over 100MM Americans. Existing solutions are not helping and often times leave people worse off.
When we chose to build ReadyForZero to address this growing problem, we knew that we had our work cut out for us and that the road ahead would be impossible to travel alone. We’ve been buried in debt ourselves and have seen it affect people we care about, so we’ll never take this responsibility lightly. To date, we’ve been lucky to have been a part of and supported by Y Combinator, a seed stage startup accelerator program (think incubator, but out of your house, or in our case, Ignacio’s living room), packed with some of the brightest people you can imagine.
In order to begin the next chapter in building and growing ReadyForZero, we’re grateful to share that we’ve received investments from some noteworthy angel investors who immediately saw (and share) our vision to help people get out of credit card debt. We chose investors who would add far more value than dollars to ensure that together we’ll reach our goal to get millions out of debt. Our investors now include Dave McClure’s 500 Startups fund, Steve Chen (Co-founder of YouTube), Benjamin Ling, Nils Johnson, and Maneesh Arora.
A “Master Cleanse” for credit card debt?*
It (our product) isn’t pretty (yet), but it’s working. Part of building and refining a new service is launching new ideas quickly, testing to see what works (and what doesn’t), and adapting to continually improve. We’re excited that users who told us that they were ready to give up before using ReadyForZero are already getting their credit card balances back to zero. Our hats are off to them and we are very excited to see a lot more where that came from.
The exciting road ahead
While this was all happening, we moved! Our new offices are in the SOMA area of San Francisco, a fertile ground for new companies. We inked a partnership that we’ll be announcing shortly that will be very exciting (and helpful) for all of us with credit card balance ready to get zeroed out.
*By the way, if you are curious about the Master Cleanse reference, you can learn about it here, but we aren’t recommending it. We’re too hooked on Chipotle burritos to even contemplate an all-lemonade diet.
Image credit: JKönig