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Stock impact report

TechCrunch Fintech: Meet PayJoy, a fintech operating at the intersection of doing good and making money [TechCrunch]

Trinity Capital Inc. (TRIN) 
Company Research Source: TechCrunch
To get a roundup of TechCrunch's biggest and most important fintech stories delivered to your inbox every Sunday at 7:00 a.m. PT, subscribe here The big story PayJoy is an example of a company with positive unit economics and a mission to help the underserved. It's not often that we see those two things intersect, so when we do, we get pretty excited. I wrote about the company's milestone of achieving $300 million in annualized revenue and profitability last year, while also managing to land $150 million in Series C funding. The company's model is unique: It helps people build credit through pay-as-you-go financing for smartphones. Once the phones are paid off, customers can apply for loans through PayJoy using their devices as collateral. Read all about its growth here. Analysis of the week Petal is another fintech company that aims to help the underserved “build credit, not debt.” Last May, TechCrunch wrote about the company's $35 million raise and plans to spin off its dat Show less Read more
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