Meet Remynt — A Demo Day[s] 9.0 Presenting Startup

This year, FinTech Sandbox Demo Day[s] will take place across three days for the first time, running from April 11–13. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation, and you get to see what they’re up to before they’re discovered.

In a series of posts over the last few weeks, we’ve been highlighting a few of this year’s presenting entrepreneurs. Today, we’re talking to Gwyneth Borden, Founder & CEO of San Francisco-based Remynt which is revolutionizing debt and credit recovery for credit-challenged consumers.

Q. Gwyneth, tell us a bit about Remynt. What problems are you solving?

A. Remynt empowers consumers to rebuild credit while resolving delinquent debt, offering new credit, a savings account, rewards, financial management tools and community for repayment.

Q. Can you describe what it’s been like to be part of the Fintech Sandbox community?

A. We are thrilled to be part of Fintech Sandbox because it has the ideal partners for our startup, namely the credit bureaus, who are a crucial part of our value proposition.

Q. What’s the origin story behind your company?

A. Remynt is my story — that of someone who made credit card mistakes and dug myself out of a hole. The lack of flexibility and compassion in the debt collection space struck me. There were harassing and threatening phone calls, litigation, and shame. Luckily, one of my creditors gave me a second chance for a reopened account to repay debt, which was life changing. I prioritized paying off that debt, and when I got my reopened card, my credit score began to improve, and creditors with good products were willing to extend credit. I wondered why this was not done at scale, so I embarked on this journey. The redemption at the heart of Remynt is about mine and those who have struggled with credit card debt.

Q. What milestones has Remynt achieved so far?

A. We have our web application online at www.getremynted.com, have set up all of our marketing automation tactics and have a robust customer data platform ready to welcome customers.

Q. How have recent developments in AI impacted your business? How does your company think about leveraging AI in a differentiated way?

A. AI is at the core of our business, as we will leverage it to understand our customers better, recognize patterns to drive conversion, make better buying decisions, and offer additional products and services. We have used AI to help develop our Knowledge Base, gather market insights, and support our policy and procedure development.

Q. What trends in fintech are you most excited about?

A. The trend I’m most excited about in fintech is the focus on financial inclusion. Many new products and services are being created to disrupt predatory financial products and give access to those who are credit invisible. Remynt is part of this movement — seeking to disrupt debt collection and create a new focus on credit recovery.

Q. What’s next for Remynt?

A. Remynt is looking forward to entering the market to welcome our first customers and scale, leveraging insights, and iterating along the way.

To hear more about Remynt and 17 other exciting fintech startups, be sure to register for FinTech Sandbox Demo Day[s] 9.0!