Earl Valencia

Company: Plentina Inc.

Location: Westport

Entrepreneur

Company/organization description

We’re improving access to financial services. The world’s 4B underbanked resort to predatory lenders who charge up to 20% interest per week and harass borrowers to financial ruin. In our first market, the Philippines, credit card penetration is only 7% and their national credit bureau covers 13% of the population. We can provide a better experience! We’re building an app that lends people money so they can buy essentials, like groceries and medicine. It’s like Affirm for everyday offline retail

Tell us about the entrepreneurial milestones you accomplished?

After launching the product during our Techstars demo day in October 2020, we've been growing our borrower base by 50 percent m-o-m scaling from 400 borrowers in October to 4500 today. Our app is one of the highest-rated apps with 4.7 stars with over 20k downloads. We successfully launch with enterpise- scale merchants like 7-11, the largest prepaid telecom and one of the largest airlines in the region. We've gotten investment from top firms like 500 startups, Techstars and Emergent

What type of entrepreneur are you?

Scalable Venture - regional, national, or global business focus

What CT entrepreneur ecosystem resources have helped you succeed?

CT innovations VC fund was instruments in coaching us and given us feedback at the onset Emergent Ventures in Sandy Hook CT invested in our pressed round Active in discussing with the Techstars team that organized the startup week in Sacred Heart U Westport library was always instrument when I was doing industry research and looking for statistics for our pitches

Nominator Justification

Leaving his managing director job at Charles Schwab in the end of 2019 to help accelerate his passion to serve emerging markets, Earl started Plentina, a data/AI FinTech company that aims to help democratize credit in emerging markets. In addition to this, he wanted to share his learnings by co launching the Startup Mindsets podcast, became an adjunct faculty in a business school in Asia, a Venture partner at Cognity labs accelerator and in the board of digital transformation company, Embiggen

Venture

Company/organization description

We’re improving access to financial services. The world’s 4B underbanked resort to predatory lenders who charge up to 20% interest per week and harass borrowers to financial ruin. In our first market, the Philippines, credit card penetration is only 7% and their national credit bureau covers 13% of the population. We can provide a better experience! We’re building an app that lends people money so they can buy essentials, like groceries and medicine. It’s like Affirm for everyday offline retail

Tell us about the milestones your venture accomplished in 2020

After launching the product during our Techstars demo day in October 2020, we've been growing our borrower base by 50 percent m-o-m scaling from 400 borrowers in October to 4500 today. Our app is one of the highest-rated apps with 4.7 stars with over 20k downloads. We successfully launch with enterpise- scale merchants like 7-11, the largest prepaid telecom and one of the largest airlines in the region. We've gotten investment from top firms like 500 startups, Techstars and Emergent

Does your venture generate revenue or are you pre-revenue?

We HAVE generated revenue

What CT entrepreneur ecosystem resources have helped you succeed?

CT innovations VC fund was instruments in coaching us and given us feedback at the onset Emergent Ventures in Sandy Hook CT invested in our pressed round Active in discussing with the Techstars team that organized the startup week in Sacred Heart U Westport library was always instrument when I was doing industry research and looking for statistics for our pitches

Nominator Justification

Plentina since launch in Oct 2020 after 8 months of lending license, has grow to almost 20k downloads, growing it's user base by 50-200 percent per month. They have scored over 11 million credit scores. They have gotten preseed funding from the likes of 500 startups, Techstars and emergent ventures (CT) Went through accelerators techstars western Union FinTech program and StartX for top Stanford startups.

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