LendUp, a socially responsible online lender on a mission to redefine financial services for the emerging middle class, announced on Tuesday the launch of its new digital banking and financial health platform, Ahead Financials.
According to LendUp, Ahead Financials is dedicated to serving emerging middle-class consumers in the U.S. and globally. It has partnered with institutions to ensure no one is excluded from the “cornerstones” of financial wellbeing, which includes the ability to plan, save, spend, borrow, and learn good financial habits. Anu Shultes, CEO of LendUp, shared more details about the platform by stating:
“Building upon our learnings and successes with LendUp, today we introduce Ahead as a solution for emerging middle class consumers striving to improve their most basic financial circumstances. With Ahead, we will double down on financial education, saving opportunities and helping the economically vulnerable to plan for and manage their expenses. While LendUp will continue to innovate small dollar lending, Ahead will provide new and needed access to banking and financial products for consumers underserved by Main Street institutions.”
Don Butler, Managing Director at Thomvest Ventures, one of LendUp’s investors, further explained:
“Ahead’s inclusive finance platform is strongly aligned with LendUp’s core mission and we are excited for this next phase of innovation and growth that Anu and her seasoned management team will be leading.”
LendUp added that it and Ahead will be led by the same experienced management team that includes former bankers, regulators and product visionaries. Shultes is a minority and immigrant CEO who has spent over 25 years in the financial services industry. As an affiliate of LendUp, Shultes will also lead Ahead Financials as CEO.
