Rightfoot provides a data integration platform that enables lenders to access real-time borrower financial information without requiring bank credentials or document uploads. This technology helps lenders reduce failed payments and improve risk management by ensuring borrowers have sufficient funds for debt repayment.
Funding
$21.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BLFounders
Product
Problem
Lenders often struggle with outdated borrower financial data, relying on static bank statements or credit pulls that don't reflect real-time account balances. This lack of current information leads to increased failed payments, higher risk of delinquency, and difficulties in complying with regulations like the CFPB Small Dollar Rule.
Solution
Rightfoot offers a data integration platform that provides lenders with real-time access to borrower financial information, eliminating the need for manual document uploads or bank credentials. By directly connecting to borrower accounts, Rightfoot delivers up-to-date insights into account balances, transaction history, and potential risks. This enables lenders to proactively manage risk, reduce failed payments, improve collections, and ensure compliance with lending regulations. The platform helps lenders understand a customer's ability to pay, monitor accounts for signs of delinquency, and seamlessly verify customer data against primary bank accounts.
Target Audience
Rightfoot primarily serves consumer lenders (personal, small dollar, and point-of-sale financiers) and business lenders (SMB, equipment, and MCA lenders), as well as collections agencies seeking to improve recovery rates.
Features
- Real-time access to borrower account balances and transaction history
- Automated monitoring for negative balances, overdrafts, and delinquent payments
- SSN and EIN matching to ensure data accuracy
- Integration with existing lending platforms via API
- Compliance tools for Small Dollar Lending, including consecutive failed payment monitoring
- Secure data transmission and storage with SOC 2 compliance
- Support for both business and personal accounts