Kredit Academy

Highlights

Buffalo Bound: Our executive team is relocating to Buffalo, an important stipulation of the 43North program, but also aligning us closer to key partners and resources.
Accelerator Success: We've completed the ACT House Accelerator Program, a significant step in our growth trajectory.
Banking Partnerships: The signing of a term sheet with our sponsor bank, Hatch, and our burgeoning relationship with M&T Bank, mark pivotal advancements in our financial networking.
Financial Milestone: We are soon to receive our first payment from 43North, bolstering our financial standing in Q1.

Kiddie Kredit & Kredit Academy: Our ARR from contracts/LOIs has reached $121k and $180k respectively, with an average contract value of around $24k - $25k across 12 companies.
User Engagement: We've conducted 10 family user interviews and 5 enterprise user interviews, deepening our understanding of our user base.

Challenges: Our short-term cash position is a focus area, set to resolve in the coming weeks. The relocation of remote teams to our new HQ is underway.
Triumphs: We're in talks for a pilot launch with M&T Bank in Buffalo, with the potential to later expand to Boston, Bridgeport, and Baltimore. Additionally, we are in due diligence with 2 additional VCs, and post-Hatch term sheet signing, we're on pace to launch our card program in April for National Financial Literacy Month.

We're welcoming a new intern and Ben Quaye (Octocredit) to our team, enhancing our compliance and credit reporting capabilities.

We're on track to close a $3MM raise on a $17.5M post-money SAFE by the end of Q2. Will convert to a priced round with the right lead (Fintech focus).

Growth Targets: We're aiming for a $100K MRR and the launch of our physical card.
Brand Evolution: Kredit Academy rebrand is on the horizon.
Team Expansion: We're planning to add talent in Sales, Product, Engineering, and a fractional CFO role.
Educational Initiative: The development of a credit education white paper will begin in conjunction with our card launch.