- Origin: TX
- Grant awarded in: 2018
What is SpenDebt?
SpenDebt is a platform solution to deliver micropayments giving consumers the ability to spend-and-pay off debt, spend-and-save, spend-and-invest, etc. The multidimensional platform works in parallel to what most people are already doing; spending money. SpenDebt provides an opportunity for those that are looking to accelerate debt payoff by complimenting their current monthly payment, targeting mostly the principal balance. Also, this tool allows people to make a commitment to paying something towards their consumer debt for those that have not committed, for example, all from their everyday transactions. SpenDebt makes micropayments automatic and painless, creates discipline, and it improves consumers financial health.
SpenDebt’s Founder/CEO, Kiley Summers is a man of faith, husband, and father. Also, he is an Electrical Engineer from the Missouri University of Science and Technology. He has 8 years of experience working with a fortune 100 company as a Manufacturing Engineer and Business Unit Leader. His experience covers leading people, processes, and technology to produce premium products. He has led a successful $62 million automated warehouse startup, 4th in company’s history at that time. Mr. Summers founded SpenDebt after his family and he paid off $100,000 plus of debt.
As Co-Founder of SpenDebt, TyLisha brings more than 10 years experience working for a Fortune 500 company. Using her analytical skills, she created the first simulation to prove out SpenDebt’s micropayment concept. Along side her husband Kiley, they became debt free and developed a platform to help others achieve the same!