Mobile bank Chime picks up credit score improvement service Pinch in all-stock deal

techcrunch.com

"Chime, the no-fees mobile bank valued at $500 million as of its last round, has put some of its funds to use with its first acquisition. The deal is for Pinch, a startup that was focused on helping millennials and other young adults build better credit. It was best known for a service called PinchRent, which allowed users to increase their credit scores over time by reporting on-time rent payments to credit bureaus."

Pinch had a really interesting business / idea around reporting rent and other alternative data to the credit bureaus. If I had to guess, something probably happened with the credit bureaus to prevent scaling...

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