The startup offers a mobile lending application that enables users to request and automatically repay loans to contacts, utilizing real-time integration with creditors for direct payments. This platform facilitates the digitization of personal loans between friends and family, allowing borrowers to set loan amounts while lenders define repayment terms.
Funding
$4.1M 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.
CFGFNMSFounders
Product
Problem
Borrowing or lending money between friends and family can be awkward and lacks transparency, potentially straining relationships due to unclear terms and repayment schedules. Traditional lending options often involve high interest rates and may negatively impact credit scores, while informal agreements lack the structure for accountability.
Solution
Zirtue provides a mobile platform designed to formalize and simplify personal loans between trusted parties, fostering transparency and accountability. The application allows borrowers to request funds and lenders to define repayment terms, all within a structured agreement. Zirtue facilitates direct payments to creditors, ensuring funds are used as intended and avoiding potential misuse. The platform automates the repayment process, reducing the awkwardness of manual follow-ups and promoting healthier financial interactions within personal relationships. Zirtue also offers Payment Guard Insurance through TruStage™, providing a safety net for borrowers facing unexpected job loss or disability.
Target Audience
Zirtue primarily targets individuals seeking to borrow from or lend to friends and family, offering a structured and transparent alternative to traditional lending or informal agreements. Additionally, Zirtue Pay targets businesses looking to offer customers a flexible payment option by enabling them to receive financial support from their network.
Features
- Mobile application for requesting and managing personal loans between friends and family
- Automated repayment scheduling with direct bank transfers
- Bill pay functionality, ensuring funds are directed to the intended creditor
- Loan term customization, allowing borrowers and lenders to agree on repayment periods from 3 to 36 months
- Identity verification and secure transactions using encryption protocols and two-factor authentication
- Payment Guard Insurance option through TruStage™ to protect against job loss or disability
- Real-time loan tracking and payment updates for both borrowers and lenders
- Integration with Plaid for secure bank account linking