LendUp Global (LendUp), one of the world’s most innovative companies in consumer finance, today announced the creation of a new subsidiary company, Ahead Financials, LLC (Ahead).
Ahead, a digital banking and financial health platform, will serve emerging middle class consumers in the U.S. and globally, and partner with leading institutions to ensure no one is excluded from the cornerstones of financial wellbeing: the ability to plan, save, spend, borrow and learn good financial habits.
“Building upon our learnings and successes with LendUp, today we introduce Ahead as a solution for emerging middle class consumers striving to improve their most basic financial circumstances,” said Anu Shultes, CEO of LendUp. “With Ahead, we will double down on financial education, saving opportunities and helping the economically vulnerable to plan for and manage their expenses. While LendUp will continue to innovate small dollar lending, Ahead will provide new and needed access to banking and financial products for consumers underserved by Main Street institutions.”
Ahead will provide a digital banking app, checking account and debit card with no monthly service fees. Ahead customers will also benefit from early access to their paycheck, fee-free overdraft protection for up to $100 and surcharge-free, in-network ATM access at over 55,000 conveniently located ATMs. Additionally, customers will receive financial literacy tools including the Ahead Financial Personal Trainer and credit-building actions to strengthen their credit scores over time. The company will add new financial fitness capabilities with key strategic partners such as the Financial Health Network, SpringFour and BALANCE, and will announce additional programs and partnerships in the upcoming months.
“Ahead’s inclusive finance platform is strongly aligned with LendUp's core mission and we are excited for this next phase of innovation and growth that Anu and her seasoned management team will be leading,” said Don Butler, Managing Director at Thomvest Ventures, one of LendUp’s investors.
LendUp and Ahead will be led by the same experienced management team that includes former bankers, regulators and product visionaries. Shultes is a minority and immigrant CEO who has spent over 25 years in the financial services industry. As an affiliate of LendUp, Shultes will also lead Ahead Financials as CEO.