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Pier banks $2.4M to launch ‘Stripe for credit’
Developers add Pier’s APIs with a few lines of codes, and the company then manages the credit lifecycle from end-to-end.
While working at fintech lending platform Stilt, Jessica Zhang and Alex Hegevall Clarke saw how expensive and time-consuming it was for the credit industry to outfit their in-house tech stacks in order to adhere to stringent federal and state regulations. “Businesses, whether a venture-backed startup or even brick-and-mortar lenders, really struggle to launch products quickly and compliantly because of how fragmented existing solutions are and the high compliance hurdles,” Zhang told TechCrunch. Here’s how it works: Developers add Pier’s APIs with a few lines of codes, saving months of labor and millions of dollars, Zhang said.
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