CreditCliq
Leavey School of Business at Santa Clara University
Industry: FinTech
Founding Student Name(s): Eve Idusuyi, Angel Idusuyi, and Eniola Osabiya
Brief Description of Solution: CreditCliq helps financial institutions extend relocation banking services to newcomers arriving in the United States and Canada. CreditCliq assists international students and newcomers in sharing their credit histories from their home countries with credit unions and financial institutions, making it easier for them to access products like credit cards or personal loans.
Funding Dollars: Creditcliq has not received external funding in the past three years while we’ve been developing the company. However, we’ve won several accolades that have helped propel us forward, including 1st place at the Silicon Valley Business Plan Competition, 3rd place at the CSU SunStone Competition, 1st place at Princeton University’s Impact Challenge, and 2nd place at the University of San Diego’s Global Social Innovation Challenge. These wins have been crucial in securing funding and recognition for our venture’s growth.
What led you to launch this venture? My mother, an international student, struggled to secure credit after moving to a new country, feeling powerless without a local credit history. This inspired me to find solutions for newcomers like her. I previously developed Creditcliq 1.0, a free credit score app in Nigeria, which gained 100,000 users through word of mouth, helping them understand credit and care about their financial health. Through user interactions, I discovered that those moving from Nigeria to the U.S. or Canada faced similar challenges due to a lack of credit history. This insight allowed us to evolve Creditcliq into a platform enabling newcomers to leverage their home country credit histories, promoting financial inclusion and empowering them to thrive in their new communities
What has been your biggest accomplishment so far with venture? Our biggest accomplishment with Creditcliq has been both the significant impact we’ve made and the recognition we’ve received through prestigious competitions. We’ve positively impacted over 100,000 users with Creditcliq 1.0, helping them better understand credit and manage their financial profiles in Nigeria. We’ve also integrated with credit bureaus in Nigeria, India, and the Philippines, and are in the due diligence phase for further integrations, including ongoing discussions with the Mexican credit bureau.
How has your business-related major helped you further this startup venture? As a finance major, my academic background has been instrumental in furthering Creditcliq. It has provided me with a solid foundation in understanding financial markets, business operations, and strategic decision-making. This knowledge has been crucial when creating financial models, assessing the scalability of our product, and pitching to potential investors.
Which business class has been most valuable in building your startup and what was the biggest lesson you gained from it? The most valuable class in building my startup has been Finance 143: Entrepreneurial Finance with Professor Dan Trepanier. In this course, we developed a real business and had the opportunity to pitch to actual investors, which was an invaluable experience. The biggest lesson I gained was the importance of understanding the financials behind scaling a business and how to present that effectively to investors. It taught me how to create a compelling financial narrative that demonstrates both short-term sustainability and long-term growth potential, which has been critical for Creditcliq’s development.
What business professor made a significant contribution to your plans and why? Professor Tanya Monsef has made a significant contribution to my plans. I had her during my first year for BUSN 170, an introductory business class, and she was incredibly inspiring and supportive. Even now, as a senior, she remains a mentor, always available to listen and offer guidance. She has been instrumental in helping me make connections within the industry, introducing me to individuals who might be interested in Creditcliq. Her unwavering support has been invaluable, and I am deeply grateful for her mentorship.
What founder or entrepreneur inspired you to start your own entrepreneurial journey? How did he or she prove motivational to you? The entrepreneur who has inspired me the most is my mother. Watching her navigate the world of business as a single parent was incredibly rewarding and gave me a firsthand look at the impact entrepreneurship can have on people’s lives. She taught me the importance of resilience, creativity, and hard work. Even today, she continues to motivate me by believing that no idea is too big or too ambitious. Her unwavering support and encouragement have been key drivers in my entrepreneurial journey, always pushing me to pursue my goals fearlessly and confidently.
What is your long-term goal with your startup? My long-term goal with Creditcliq is to continue growing and scaling the company to become a leading solution for financial inclusion, especially for newcomers to the U.S. and Canada. I aim to expand our partnerships with banks and credit unions globally, ensuring that more people can access the credit and financial services they need, regardless of their location or background. Ultimately, I want Creditcliq to make a lasting impact by helping millions of individuals build a strong financial foundation as they relocate and establish themselves in new countries.
How has your local startup ecosystem contributed to your venture’s development and success? Being in Santa Clara, right in the heart of Silicon Valley, has been incredibly beneficial for Creditcliq’s development. During my first-year, we participated in the Bronco Venture Accelerator program at Santa Clara University, which was so helpful and allowed us to keep building. The local startup ecosystem offers numerous events, workshops, and networking opportunities where I can connect with fellow entrepreneurs, industry experts, and potential investors. Engaging with this vibrant community has not only helped me gain valuable insights and feedback on our business model, but also allowed me to forge relationships with individuals who are shaping the future of technology and finance.
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