We launched Dwello for tenants with a simple mission – to help responsible renters get credit for their rent payments. Renting gets short shrift versus home ownership in North America. There are indirect benefits of course but Dwello is the simplest, most direct way for a tenant to see an upside. By ensuring that the credit bureau recognizes rent payments towards the credit score we help tenants work their way towards better financial health.
We were once asked (Thanks Nathan!) – “isn’t it counter intuitive that you want to help people improve their credit score while encouraging them to get more credit?”. In our opinion, credit is a necessary tool for the modern world. For instance, few of us have the cash in hand to buy a car outright. But if working with Dwello could give tenants extra cash in the pocket at the end of the month.
We set out to alleviate the worst part of borrowing – the interest rate – just by doing something as mundane as paying rent. Whether you are starting out a new life in this country or aiming for a fresh start, we want Dwello to be a pleasant and efficient way for you to improve your financial stability.
Our aim is to help the millions of families in North America who rent get a leg up and save them money.
Chris, Moussa and Varun.