Credit Sesame raises $6.15 million

Source: Credit Sesame

Credit Sesame, the leading free online service that helps consumers make smarter credit decisions and optimize their loans for maximum savings, today announced it has closed a $6.15 million Series B round of funding led by Menlo Ventures. Credit Sesame's Series A lead investor, Inventus Capital, also participated in this round.

Credit Sesame is the only free online service that helps consumers monitor their debt and credit information as well as the lending market, all in one place. The service helps consumers optimize their entire credit and loan portfolios, including mortgages, consumer loans, and credit card debt. In just minutes, Credit Sesame provides a complete picture of a consumer's credit and debt and regularly sorts through thousands upon thousands of loans, mortgages and refinancing options to find personalized offers that help consumers save money. Launched in public beta in November 2010, Credit Sesame already is helping consumers better manage nearly half a billion dollars in loans.

"Credit Sesame is an extremely rare financial technology company -- it has no competitors, offers a billion dollar market cap opportunity and provides a vastly superior technology for consumers," said John Jarve, a Managing Director at Menlo Ventures. "The company is a perfect fit to follow Menlo's past successes in the financial technology category including investments in high-growth companies such as Digital Insight and Open Solutions."

Credit Sesame helps people significantly reduce their debt payments and get into a healthier financial place. Most Americans have loans or carry some form of debt throughout their lives. Up to this point, there haven't been the same types of tools and services for optimizing loans that are similar to those for managing one's investments. Credit Sesame changes that by giving consumers the information and the analytics they need to help them get access to and choose the best loans for their financial well being.

Backed by a powerful analytics engine developed by Stanford University scientists, Credit Sesame turns the tables on the banks and empowers consumers by offering them the same powerful financial analytics tools that banks use to make optimal lending decisions. With Credit Sesame, consumers can rely on such analytics to choose the best-suited loans for their unique financial situation. But while the banks are ultimately looking out for their bottom lines, Credit Sesame looks out for the consumers.

"Credit Sesame fills the gap between high-end wealth managers and low end credit counseling by serving the vast majority of Americans who want to make smart credit and loan decisions, save money on their mortgages and loans, and reach their financial goals in an objective and scientific way," said Adrian Nazari, founder and CEO of Credit Sesame. "This new round of funding will allow us to expand our services and extend our reach to millions of people who can greatly benefit from our free service. With so much conflicting credit, debt and mortgage information on the web, average consumers don't have the right tools to understand where they stand financially and how they can improve their situation. Credit Sesame changes all of that, for free."

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