Connect with us

Tech

Tech’s Startup Hot New Market: The Poor

This is the origin story Merrill tells when asked how someone with his high-end tech credentials wound up starting a company, ZestFinance, to lower the cost of credit for so-called “subprime” borrowers like Vicki

Published

on

Douglas Merrill’s sister-in-law Vicki needed new snow tires. Without them, the single mother of three, who was going to school while also working full-time, couldn’t get to work. She’d lose her job.

But Vicki was in a bind. She couldn’t pull the money together to cover the unexpected expense. So she called Merrill, who gave her his credit card number. As the former chief information officer at Google, he could afford to foot the bill. But he was curious: What would Vicki have done if she didn’t have a well-off family member to turn to?

“‘I’d have taken out another payday loan,’” Merrill says she told him. “I thought it was unfair that she could call me and other people couldn’t.”

This is the origin story Merrill tells when asked how someone with his high-end tech credentials wound up starting a company, ZestFinance, to lower the cost of credit for so-called “subprime” borrowers like Vicki. What kind of loans? Payday loans. Kind of. Not really. But really.

via Tech’s Hot New Market: The Poor | Wired Business | Wired.com.

Click to comment

Leave a Reply

Tech

Global fashion e-tailer Shein launches new hub in Singapore

Published

on

Shein has websites for Singapore, Indonesia, Thailand, Vietnam, and the Philippines and has plans to create a standalone website for Malaysia too.

Source link

Continue Reading

Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

Published

on

By Karen Lee

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,159 other subscribers

Wise

Recent