Press Release: Credit Sesame Secures $12 Million, Sees Tremendous Growth in Helping Consumers Better Manage Personal Credit and Realize Overlooked Savings
Group SJR for Credit Sesame
Sunnyvale, CA – June 11, 2012 – Today, Credit Sesame, the free service that helps consumers easily monitor their credit and loans in one place and save money on debt, announced that
it has raised $12 million in new funding. Globespan Capital Partners led the round with
participation from Credit Sesame’s existing investors, Menlo Ventures and Inventus Capital.
The latest round of financing will support Credit Sesame’s expansion to reach millions of
U.S. households carry $14 trillion of debt in mortgages, credit cards, consumer loans, and
student loans. Yet the average consumer lacks an easy, objective tool to help them make smart
financial decisions. By providing consumers with instant, free access to credit scores and critical
financial information, Credit Sesame meets this need and goes a step beyond. Credit Sesame’s
proprietary analytics engine analyzes a consumer’s credit profile against thousands of available
financial products in the market to find solutions to help consumers save money and meet their
individual financial goals.
“As investors, we believe that Credit Sesame has tremendous potential to help Americans
achieve a better financial future,” said Daniel Leff, Ph.D., Globespan Capital Partners. “The
company is solving a real problem for consumers and has already demonstrated great success
in helping its users simplify the daunting task of understanding their comprehensive credit and
debt profile, and how they can improve their finances with little or no effort. We are happy
to fuel the company’s growth and help Credit Sesame realize its goal of reaching millions of
Since its public launch, Credit Sesame has experienced tremendous user growth and now
oversees more than $22 billion in consumer loans and debt on its personal finance platform.
Credit Sesame currently finds $175 million a month in savings for its users. As a result, nearly
half (48%) of the users now frequent the site 2- 3 times a month to stay abreast of their
finances and realize ways to stop overpaying on their debt. The company’s performance is also
well reflected in its revenue growth, which has quadrupled quarter over quarter.
“Credit Sesame helps consumers better manage the critical part of their finances they often
neglect: their credit and debt,” said Adrian Nazari founder and CEO of Credit Sesame. “While
consumers are out investing countless dollars and hours, trying to time the market for a slightly
better return on their investments, we’re giving them the edge back home, making sure they’re
not incurring thousands of extra dollars in cost each year on their loans and credit needs.”
Credit Sesame will use the funding to expand its market reach and to continue investing in its
patent-pending analytic tools developed by Stanford University scientists and vetted by top
banks. The company plans on hiring talent in marketing and engineering and enhancing its
mobile app, the #1 free credit score app in the iTunes store.
For job inquiries visit /about/jobs/
About Credit Sesame
Credit Sesame is a free online personal finance tool that gives consumers an easy way to
monitor and manage their credit and loans all in one place and save money on debt. It provides
consumers with free access to their credit score, analysis, advice and tools to take control of
their finances, unlock their credit potential and borrow smarter. The company was founded in
2010 and is based in Sunnyvale, California.
For more information visit www.creditsesame.com and stay connected by following us on Twitter (@creditsesame), liking us on Facebook (http://www.facebook.com/creditsesame), getting the latest expert tips from our personal finance blog and staying with us on the go through our free mobile app (http://tiny.cc/credit_sesame_itunes)