In this compelling episode of the 43North podcast, we unravel the remarkable journey of Kredit Academy, a 43North Y9 portfolio company that recently relocated to Buffalo, New York. Founder Evan Leaphart, drawing from his own struggles with credit card debt at the age of 18, shares how this pivotal moment ignited the creation of Kredit Academy—an initiative aimed at empowering youth to use and leverage credit and credit cards.
Founding of Kredit Academy
Evan shares his entrepreneurial journey, emphasizing the challenges he faced due to past credit mistakes made simply due to lack of information. Inspired by his experiences, he envisioned a solution to educate individuals, especially the younger generation, about responsible credit behavior. Mike Gross, Evan’s Best friend and Kredit Academy COO, joined the venture to impart crucial life skills.
Kiddie Kredit
Evan and Mike introduced Kiddie Kredit, an app that serves as a simulated credit environment and activity management tool designed for children. Easily described as a chore tracker, Kiddie Kredit assigns value to household tasks, teaching children financial responsibility and positive habits. Parents can monitor and reward their children’s activities through the app. When they do their chores, they earn “Bamboo Bucks,” adding them up to earn rewards (such as staying up late, ice cream, or whatever the parents choose). Missed activities are treated like missed payments.
Kredit Academy’s Educational Approach
The discussion shifts to Kredit Academy, a platform that combines financial education with a secured credit card for young users. The team aims to build the world’s first credit card for the next generation, focusing on education overspending. The secured card requires users to deposit funds, promoting responsible financial behavior.
Black Men Talk Tech
Evan shares his involvement in founding Black Men Talk Tech, a community-driven initiative addressing the lack of resources for Black entrepreneurs in the tech industry. The platform provides support, networking opportunities, and education to underrepresented individuals, contributing to their success in the startup ecosystem.
Connect with Evan and Mike
LinkedIn: Evan Leaphart
LinkedIn: Mike Gross
Learn more about Kredit Academy and Kiddie Kredit:
Kredit Academy Website
Download Kidding Kredit
Subscribe to the 43North Podcast for more inspiring stories and entrepreneurial insights!
