Jessica Pothering | ImpactAlpha
The investment is Acumen America’s fifth targeting the 47 million Americans living in poverty
San Francisco-based EarnUp provides loan consolidation and repayment support to help Americans living paycheck-to-paycheck manage their debt.
It says it has handled $1 billion in loans since its 2015 launch. Acumen America’s investment into the fintech firm is part of a new, $5 million financial-inclusion initiative backed by MetLife.
Global impact investor Acumen Fund launched the U.S.-focused Acumen America in 2016 to invest in startups serving the 47 million Americans living in poverty. EarnUp is Acumen America’s fifth investment.