Matthew Cooper: Easing that burden to keep you compliant is big. There are some new regulations like the California privacy regulations which will make everybody’s lives much more painful.
Sramana Mitra: People who are paying their loans online is one type of usage. Do you have a sense of how many of these are using a consolidation app to manage their debt? Matthew Cooper: To our knowledge, we are not familiar outside of the ones that Mint built. It’s a very small number. The
Sramana Mitra: It’s a bit misleading to say that you are helping consumers get out of debt. It sounds like you are paying off their debt. Now that I understand what you’re doing, you’re basically managing the payments in a software environment. Matthew Cooper: That’s the whole point of the application. Today, we have over
100 million consumers live paycheck to paycheck and are loaded with debt. EarnUp offers a solution to help them ease their debt burden. Sramana Mitra: Let’s start by introducing yourselves as well as EarnUp. Matthew Cooper: Nadim and I are the two co-founders of EarnUp. I’m currently the CEO and Nadim is the CFO. EarnUp