Zingo

Zingo provides innovative rent reporting services to enhance financial wellness for consumers, enabling them to improve their credit scores and access better financial products. Founded in 2017 and headquartered in Portland, US, Zingo specializes in integrating rent reporting services into financial wellness solutions. In June 2021, Zingo was acquired by Credit Sesame, Inc. , a strategic move aimed at expanding Credit Sesame's service offerings.

The acquisition was part of a deal involving various investors including ATW Partners and Menlo Ventures. The total funding raised by Zingo is USD 0. 80 mn, primarily from its latest funding round in 2021. Credit Sesame primarily offers a suite of financial services designed to empower consumers in managing their credit and financial health.

The core product is a free credit score monitoring service that provides users with access to their credit scores and reports, allowing them to track changes and understand factors affecting their credit profile. Additionally, Credit Sesame offers personalized recommendations for credit cards, loans, and insurance products tailored to the user's credit profile, enhancing the chances of approval. These services cater to a diverse customer base, including individuals seeking to improve their credit scores, first-time borrowers, and those looking for debt management solutions. The company markets its offerings primarily in the United States, but its digital platform may also attract users from other regions looking for credit-related insights and tools.

Credit Sesame generates revenue through a combination of partnerships and affiliate marketing arrangements with financial institutions and service providers. The platform connects users with credit card, loan, and insurance offers that align with their financial profiles, earning commissions from lenders and insurers upon successful transactions. The company’s revenue structure includes incentives for user engagement, such as when users apply for credit cards or loans through its platform. Additionally, Credit Sesame may offer premium services, providing users with advanced features for a subscription fee.

These revenue streams are bolstered by the company's ability to maintain a large user base by offering essential financial tools and resources at no initial cost to the consumer. Following the acquisition in June 2021, Credit Sesame plans to integrate Zingo's rent reporting services into its existing financial wellness platform. This integration is expected to enhance their product offering by allowing users to improve their credit scores through rent payment history. The funds from the latest deal will support the development of these new services and expand their reach into various markets.

Credit Sesame is also exploring opportunities to launch additional financial products targeted at underserved communities, aiming for a broader geographical presence by the end of 2022.