Eric Blue knew it was his life’s mission to launch Nevly.

So, he spent his last penny to ensure underserved communities could practice better financial habits when he founded the fintech startup in 2021.

Nevly is built on the mantra “Do Money Different” and actively helps people become conscious about how to reach financial freedom.

Plus, the platform launched a web application named Nevly Money which “leverages dramatic advances in financial technology to deliver personalized, data-driven solutions” to help with credit repair, according to a press release provided to AfroTech.

In addition, per Crunchbase, Nevly raised $1.25 million in a pre-seed funding round from Tenacity Venture Capital.


“We have 230 million adults in the U.S. right now, 151 million of us are financially unhealthy, which falls into one or two buckets, either financially vulnerable or financially equipped. So, when you think about that within the context of this is probably the most developed economy on the planet and highest income earning potential on the planet, to have that many people sitting in those two buckets is a huge problem,” Blue told AfroTech.

He continued: “If you look at this problem over the next 20 years, it’s probably the second most critical risk to develop nations after access to clean drinking water. So, we just want to do our part to put a dent in that and just along the way, build a really solid community of like-minded people who believe what’s possible using technology and just deliver innovative products into that community and just iterate on those products.”

Nevly Money aims to stand out among traditional credit repair platforms by offering incentives that include:

  • First month free
  • No initiation fees
  • $100 credit builder card
  • a referral program that pays $15 per month for the duration that the referred is subscribed

“Traditional credit repair charges an initiation fee upfront, we charge no initiation fee,” Blue said. “Traditional credit repair charges you the first month. We charge nothing the first month. We don’t bill you until roughly 31 days after your processes started. In beta, almost 95 percent of all users who went through beta saw a fairly material change in our credit score before the 31st day. So, if you think about that conceptually, we’re literally showing people results before we ever ask them to give us a dime.”

Later this year, Nevly plans to release a mobile application featuring an innovative AI-powered financial health assistant. By analyzing transaction data, this assistant will generate a financial health score based on an eight-factor composite definition of financial health.

Additionally, the app will provide personalized insights, allowing users to take appropriate next steps to improve their financial well-being once their credit score has been enhanced.

“So, the idea behind our two products is we built Nevly Money, the credit product because it’s a very acute problem, but it gets really bad going into recessions,” Blue told AfroTech. “The overall goal though is we want every consumer who starts their journey with us through that web app to get their credit score where they need it as quickly as possible so they can stop paying for that subscription. I ultimately want them to download our mobile app, and strengthen their overall financial help so that they never need a product like our subscription or any other legacy credit repair business ever again.”