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Tuesday, May 28, 2024
BusinessEntrepreneurs launch new Fintech business to help people boost credit ratings

Entrepreneurs launch new Fintech business to help people boost credit ratings

A mobile network provider that helps boost customer credit ratings, has been launched by new fintech business, Boshhh.

Entrepreneurs Lewis Camilleri and Sebastian Gerrard founded their company last year and have now launched their first product.

Also named Boshhh, the network provider is a partnership with the UK’s leading credit reference agencies Equifax and Transunion.

Poor or no credit ratings

Boshhh is mobile phone network carrier aimed at people with poor credit or no credit.

It offers 100% acceptance for its SIM plans and works with customers to help to promote a positive influence on credit files by reporting on-time payments to them improve their credit score.

Co-founder Lewis said: “Boshhh is a project I have been working on for several years and after discussing it with Seb – we saw a way of bringing it to the market. After a year or tirelessly working together – it’s fantastic to be able to launch it today.

“We wanted to launch this because there’s a fundamental problem in today’s society that a lot of people lack real knowledge about how the credit system works.

“I know from my own personal experience that following a few mistakes in my earlier years, which I didn’t understand the impact of at the time, meant I had a bad credit score which made things difficult for me as I was unable to borrow any money at all in some situations and certainly couldn’t get finance at a reasonable APR which was a huge setback and really put me behind.

“After some success in business and seeing that it wasn’t just me that had this dis-advantage, Sebastian and I set out to build an informative credit boosting tool for the people that need it.”

Cost of living crisis

Co-founder Sebastian added: “There is a real financial problem in the UK now with the current cost of living crisis and increase in interest rates.

“It’s widely reported that increasingly a large proportion of the UK population are financially excluded from many financial products due to poor credit rating so it’s a vicious circle. If you can’t get credit, you can’t build it. With Boshhh we want to be able to stop the vicious circle.”

Guaranteed success

Anyone can apply for a Credit Building SIM from Boshhh and is guaranteed success.  Once the agreement is approved, Boshhh advises Equifax of the credit agreement and notifies it monthly of all successful payments to help improve customers’ credit rating.

Boshhh also provides tips and advice on building and maintaining a good credit score while customers also receive access to a full 1800-point credit file so they can monitor and manage their own credit score carefully.

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