How Students Can Get Loan Without Credit History: $17K-Million Finance Generation Z Oriented Startup

3 years ago



Needless to say, money make a real problem for any student. The thing that the situation won’t change as soon as you’re graduated. In case you will need some cash ASAP, you will face a Catch-22. How to live through it? To support our graduates and those students who are still confused by this year’s loans, the Typical Student team is going to introduce you Deserve program.

What Is Catch-22?


To start with, Catch-22 is a well-known sad situation students usually face after the graduation. You are not allowed to get a credit card or even a credit loan because of an empty credit history. On the other hand, you have no credit history because you can’t get a credit card or student loan.

Who And Why Created The Program?


The Catch-22 dilemma is what Kalpesh Kapadia went through. He came from India to US to study and was turned down, again and again, trying to get a credit card or student loan.

"I got rejected every time," Kapadia said. "It was mostly for credit cards and student loans, given that I didn't have a credit card history in the country."

That’s why, being CEO and founder of Silicon Valley-based startup Deserve, Kapadia focused on helping young people build credit. Today, the startup raised $17 million from Sallie Mae, Accel, Pelion, Aspect Ventures, and Mission Holdings.

According to Kapadia, although the impressing amount of credit history he had abroad, US credit companies did fail to recognize his financial credibility.  

"Everything works around building good credit history," said Kapadia. "Building good credit is a weapon, it's a tool that can advance your entire life."

Kapadia says his program Deserve and its credit card was created with Generation Z in mind. Basically, these credit cards are available for anyone in possession of any kind of American ID and a bank account.


recommended for you

Any questions or propositions?