Nicholas HinrichsenFounder

United States - ND

Consumer lending is broken and Americans are overpaying billions of dollars in interest.

Here's the problem: consumers don't shop for loans. They shop for products!

When you buy a vehicle for example, do you really think the dealer has your best interest in mind? When you get your loan at the dealership, the finance manager will give you the loan that's best for him and not best for you!

The same is true for all kinds of consumer debt and Americans don't even realize. Not all hope is lost though! Credit Unions - tax-exempt non-profits - help Americans with their financial wellness and really want to try to help consumers.

We believe that with a little bit of technology help, billions of dollars will move from commercial lenders to these mission-driven organizations. We're on a mission to turn Credit Unions into technology companies!

In 2017, my co-founder Chris Coleman and I sold our previous company to Carvana.com. We helped the digital car retailer grow exponentially and started Clutch in 2020. Since we’ve started Clutch, we’ve grown the business to process billions of dollars in loan applications and saved consumers hundreds of millions in interest charges.

We couldn't do any of this without the tireless support from Andreessen Horowitz, CMFG, Curql, Peterson Partners and the Cultural Leadership Fund as well as our 55 angels including Andy Rachleff, Gokul Rajaram, Manik Gupta, Rahul Vohra, Lenny Rachitsky, Sriram Krishnan, Brian Reed, Danny Shader, Parker Treacy, Aadik Shekar, Florian Hagenbuch, Mate Pencz, Andres Andrade, Fernando Gadotti, Marcos Salama, Jake Miller, Peter Livingston, Jim Ellis and Kevin Taweel.

We feel humbled by your vote of confidence and are thrilled to support the Credit Union movement.