LOQBOX Teams With Credit.com to Help Consumers Build Credit History

Money management app LOQBOX is partnering with credit monitoring platform Credit.com to help Americans build a credit history, according to a Wednesday (April 6) press release.

LOQBOX launched in 2020 and has helped almost 1 million people gain increased financial literacy and build their credit scores, the release stated.

“We want to give anyone and everyone access to a richer life, and by partnering with ExtraCredit, we believe this is a great way to help people who may not have a credit history or score,” said LOQBOX Co-Founder and Co-CEO Gregor Mowat in the release. “Since launching LOQBOX, we have helped around a million people with building a credit history, and this exciting partnership will allow us to do even more in this space.”

LOQBOX said in the release that it reports consumers’ credit repayments to the three main credit bureaus as part of its plan to help them build their credit histories and boost their credit scores, giving them increased access to bank loans and other financial perks.

“For over 25 years, Credit.com has empowered consumers to take control of their credit with monitoring tools and educational resources,” said Credit.com General Manager David Lord in the release. “This partnership with LOQBOX will help us to reach more people and give them additional support to master their credit score.”

Last month, Software-as-a-Service (SaaS) firm Perfios acquired FinTech platform Karza Technologies for an undisclosed amount, two weeks after Perfios raised $100 million in a Series C fundraising round.

Read more: Indian B2B Credit Platform Perfios Adds FinTech Karza

Perfios has more than 350 customers for its real-time credit decisioning and analytics platform, including banks, non-bank lenders and FinTech startups in India, Southeast Asia, the Middle East and Africa. The platform can generate insights on credit assessment, monitoring, fraud analytics, personal finance management and more.

Karza provides solutions in digitization, fraud mitigation, onboarding automation and systemic risk for 450 customers in the fields of lending, banking, payments, insurance and FinTech.