Snapshot
Year founded : 2022
Founder/CEO: Eli Muse
Location: Sydney, Melbourne
Size of Team: 6
Website: https://chippit.app/
Who is your ideal customer: Millennials, Gen Z's seeking alternatives to high interest credit and fees on credit cards and personal loans. Skilled migrants on work visas and international students.
Why would someone work for your company: In light of the fact that the financial system excludes a minimum of two billion people worldwide and an additional two billion have limited access to financial services and often face high fees or interest rates, it's difficult to imagine a more pressing issue to tackle. Particularly when considering the contrast between the privileged few who pay substantially lower fees for the same services.
At Chippit, we offer a range of benefits including purpose-driven work, a strong sense of value and culture, diversity and flexibility, ownership, and opportunities for growth. Our team is made up of individuals committed to making a lasting impact, and we recognize and reward those who share our long-term vision.
Current Investors: Antler, Angels
Recent Milestone: Customer growth averaging over 20 -30% monthly on just word of mouth. Customers love what we stand for and many have asked to invest in Chippit. We may consider crowd funding to give our users some stake in the future to reciprocate the love.
Why the name: Chippit is a variant of "Chip it", an everyday word for how friends and family contribute together towards and shared expenses. So it was sensible for us to keep it as natural as possible,
Why did the business start ? : To disrupt the persistent debt model of tradition lending so that everyday consumers can access affordable capital without the burden of high cost and fees. Also, to expand credit accessibility to underbanked demographics, including international students and labor migrants, to create a more inclusive financial system.