Type Private Founder Yaniv Levi Area served United States | Industry Personal finance Headquarters New York Founded November 2015 | |
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Services AI tracking of financial spending | ||
GoChange.co is a free service, combining artificial intelligence and behavioral science to help millennials be on track financially.
Contents
History
Change Labs Ltd was founded on November 2015. According to Forbes, the startup is set to change the millennial spending behavior by helping them realize and control their spending behaviour. The service targets the generation to protect them from over spending or the "credit card curse".
Process and technological aspects
Their technology constantly analyzes financial behavior of their clients and suggests effective ways to keep their clients on track financially. Change is able to provide automated banking services such as savings, bill payments and grant short terms loans.
The service lets the users join in and sign upfor free. The user does not need to download a software rather join via the website and connect it to his financial accounts. The system runs algorithms against financial transactions and generates insightful database. Machine learning suggests personalized behavior “nudges” based on aggregated data. All communication is done through texting with a basic chatbox.
Investment and company status
Change raised $800k during seed round from Nielsen and the OCS.
Beta version was launched in March 2016. As of June 2016, the company is serving over 2,000 users with linked bank accounts.