AgentBrokerage

Debt-payment tool could help agents add more value

EarnUp automates saving and loan payments
  • EarnUp helps consumers manage debt by putting aside money and automating loan payments.
  • Agents could potentially provide value to leads and clients by referring them to budget-management tools like EarnUp.

Real estate agents are teachers, and their wisdom doesn’t have to putter out at the closing table: they can also leave clients with lessons for the future. Like how to manage mortgage debt. That’s where startup EarnUp can come in handy. It helps consumers manage debt by automating saving and loan payments. While a number of startups may be honing similar products, EarnUp recently achieved some notable recognition. It was honored as a winner of the Financial Solutions Lab, an initiative co-founded by JP Morgan Chase. And, today, it announced a $3 million funding round led by Blumberg Capital, Kapor Capital and Camp One Ventures. EarnUp helps consumers absorb “financial shocks related to income volatility where their income doesn’t match up with when loan payments are due,” said EarnUp co-founder Matthew Cooper in a statement. The startup constantly siphons off small amounts of a user’s income to a stash earmarked for loan payments. It makes loan...