Y Combinator-incubated LendUp launched in October with supporting from Kleiner Perkins, Andreessen Horowitz, Bing Ventures, Kapor Capital among others, to create a solution that is fresh a classic issue: you must spend your bills now, but you don’t have the cash to cover them. As opposed to look to predatory loan providers and banks, using their high rates of interest, borrow funds from buddies or protect your eyes and hope they’re going away, what now ??

It may look like a situation that only befalls the chronically reckless, however in reality, 15 million Us citizens turned to payday loan providers to borrow cash year that is last. (more…)