I'm Frida, CEO of Debbie, a start-up that just raised $1 million to pay people to get out of debt. We’re paying out $100,000 cash to prove that positive reinforcement is the key to better financial behavior. AMA about hacking the psychology of rew...
Hi Reddit! I'm Frida Leibowitz, the CEO of Debbie.
I grew up in an immigrant, single-parent, non-college educated family that was always in debt because of trying to keep up with the Joneses. As an adult, I fell into the same trap and racked up $50k in debt by the time I was 20 years old.
I got a scholarship to NYU and after college ended up working in consumer lending at Marcus by Goldman Sachs (the irony). I got to see how the system that promises 'financial freedom' actually perpetuates the vicious cycle.
6 months ago, I started Debbie- the first rewards platform for debt payoff. We're proving that rewarding users for positive financial habits is much more effective than punishing them for bad ones (like using late fees, credit score hits etc).
We raised $1m from Liquid 2 Ventures (Joe Montana's fund), BDMI (VC arm of Bertelsmann, parent company of Penguin Random House), One Way VC (immigrant focused fund), Village Global, Green Egg Ventures, and others.
We have started building a waitlist which is now at 4k signups. Sign up here.
AMA about overcoming generational debt and building a venture-backed business at the age of 25.
Starting on December 9th 5pm ET/ 4pm CT/ 2pm PT.
Proof: Here's my proof!