Credit is incredibly important, but still an elusive part of many people’s financial journey. Luckily, an app is aiming to change that and its being supported by some heavy-hitters.
Kiddie Kredit, a startup founded by Evan Leaphart, has raised $1.4 million in funding to help scale. Nueterra Capital, Plain Sight Capital, Fuerza Ventures, Verve Capital, and former pro athletes Dwyane Wade and Baron Davis participated in the round.
“I was drawn to what Evan and team are working on with Kiddie Kredit. It’s important to give kids a head start and especially on the topic of credit,” said Dwyane Wade, per Refresh Miami.
Kiddie Credit provides lessons to kids aged 4 to 12 to help teach them the basics of credit by assigning tasks and chores that earn them points towards their kredit score.
The app has already been used by more than 12,000 families since its launch in 2019.
Despite not directly being monetized, the gamified lessons have been well-received by financial institutions like Equifax, who currently advertises with the company.
“Most importantly, organizations can unlock for families this entire financial literacy journey of over 250 hours of content that meets multiple National Financial Literacy Standards,” Leaphart told Refresh Miami. “We want to own the space of Generation Alpha. What we want to be is the domain experts within that space,” Leaphart said. “We’re with them on that journey.”