Based in Dallas, Texas, Zirtue focuses primarily on the intersection of two major problems: A individual who needs financial help to pay their payments, as well as a company in bad debt.
Zirtue is used by partner firms as an alternative payment solution, allowing consumers with overdue accounts to seek loans from friends or family to settle their obligations. This reduces debt for their business partners and opens the possibility of very low-interest loans to their customers.
Zirtue has raised $6 million in venture capital financing since its launch, and the platform has handled over $40 million in loans.
Zirtue’s mission is to create a more inclusive payment solution restoring financial freedom, one relationship at a time.
The firm works with companies like AT&T, Reliant Energy, and UT Southwestern Healthcare, providing their patients and customers with a new payment solution as well as reducing collections.
The goal is to provide a more financially inclusive customer experience with affordable payment options while reducing unpaid bills and late payments.
On their new platform, Zirtue’s Alternative Payment Solution allows individuals with past-due accounts to request loans from friends or family in order to pay their bills.
They also provide further accountability and trust for lenders. In fact, loans used to pay bills directly on their platform are twice as likely to be approved by loved ones.
CEO and Co-Founder of Zirtue, Dennis Cali, explained: “Zirtue’s Alternative Payment Solution provides a new level of convenience for those who are living in underserved communities and those who are simply struggling to pay their bills due to an unexpected event in their life. As we reinvent lending, borrowing, and bill payments, we are working with our corporate partners to reduce collections and support their customer’s essential needs – like keeping their lights on, having internet at home to complete their studies, or paying for necessary medical procedures.”
Learn more about Zirtue here.