FINTECH

Grow Credit Expands Banking Relationship With Wells Fargo To Support Its Financial Inclusion Capabilities

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The financial inclusion platform behind the Grow API and its innovative payment, retention, and turndown product suites, Grow Credit has announced an expanded banking relationship with Wells Fargo to receive depository and treasury services across operations, from collection and disbursement accounts to fund transfers.

The announcement comes on the heels of Grow recently announcing its Series A round led by USAA and launching its innovating API, enabling fintechs and financial institutions to extend a financial inclusion product to consumers that leverages subscriptions and cell phone payments to build credit with a selection of free, secured and unsecured memberships.

CEO at Grow Credit, Joe Bayen states, “We are actively scaling our business operations and needed to work with a robust financial institution that could support our growth. We’ve had a long-standing relationship with Wells Fargo. However, we did not realize they were nimble enough to support a fast-scaling startup. We were pleasantly surprised by their responsiveness and the speed of their onboarding process.”

Grow Credit’s need for scalability was further highlighted by its recent integration announcement with Beem, a startup counting over two million users, and other fast-rising startups, including leading debit card for gamers Ugami and AI credit care app Dovly.

Wells Fargo Southern California Tech Banking Leader, Dave Stolpe, added, “Financial inclusion is an important area of focus at Wells Fargo. Grow Credit has been a financial inclusion pioneer over the past five years, helping democratize access to credit for minorities, underserved, and low-income communities nationwide. We are excited to support their efforts by deploying the banking and treasury services they need to scale their financial inclusion operations further.”

Grow’s award-winning platform, previously featured in the coveted Forbes Fintech 50, is poised to make additional major announcements throughout 2024 as more financial institutions, insurance carriers, fintechs, and subscription businesses rapidly embrace Grow API’s innovative payment, retention, and turndown solutions.

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