As the United States struggles with high interest rates, the poor, underserved, disenfranchised, and uninformed are disproportionately affected, particularly those lacking credit access. These folks are practically unable to support their lifestyles or obtain Credit for their basic requirements, and when they can, they wind up paying outrageous interest on every loan. Joe Bayen developed Grow Credit Inc. with these groups of people in mind, following years of expertise in the financial and payment sectors. 

Joe bootstrapped Lenny Credit, a small-dollar loan and credit score improvement platform. Previously, he worked as an EIR at VC fund Science-inc, aiding with mobile growth initiatives. Joe founded ICS Mobile Inc., the developer of Free App A Day, a mobile application marketing platform with 12 million users globally that was bootstrapped to a total revenue of $18.3 million. However, in 2018, Lenny Credit was renamed Grow Credit.

Grow Credit is committed to lowering the barrier to entry for millions of Americans who need to create and improve Credit by allowing consumers to pay for their subscriptions automatically through an interest-free virtual MasterCard. Grow Credit allows individuals with bad or no credit to develop a credit history by utilizing Netflix, Disney Plus, Spotify, and other services. 

According to Joe, Grow Credit now provides four low-cost plans, the most notable of which is the Build plan, which is free to use and does not require any commitment to upgrade to a premium account at any point. In his words, “We do not charge interest on any Grow Credit accounts,” offering a level playing field and opportunity for students, low-income earners, disadvantaged people, and even minority groups to grow their Credit.

Grow Credit Inc. just raised $10 million in a Series A round led by USAA, a financial services corporation that serves the military community.