Evan Leaphart is the Founder and CEO of Kiddie Kredit, an EndeavorLAB alum, and the Co-Founder of Black Men Talk Tech. He dedicates his time to products and initiatives for families to teach children about the fundamentals of finance. In this spotlight, he shares with Endeavor Miami his personal motivation for starting Kiddie Kredit, what the company’s mission is, the product’s differentiation and more.
What is Kiddie Kredit?
Kiddie Kredit is an activity management tool that helps parents and organizations teach kids about credit.
What is your mission?
Our mission is to educate about the risks of credit before it becomes an issue.
Why did you start Kiddie Kredit?
I started Kiddie Kredit to build the product I wish I had when I was younger. I made my 20’s unnecessarily difficult all because I had a poor credit score. I was unable to obtain loans for my businesses and also prevented me from getting a mortgage.
How does your product/service differentiate itself from others in the market?
Our product is different from other chore tracking apps you may see because we don’t focus solely on allowance. Almost 40% of parents don’t pay an allowance so we created a rewards system that is inclusive of all households and parenting styles.
Additionally, we don’t charge parents monthly. Our revenue comes via our SaaS platform which allows organizations (like financial institutions, employers and or after school programs) to directly interact with the family app. They unlock over 250 hours of financial literacy content, send push notifications, and can add activities or rewards to the family app.
What is next for the company?
We always hear that as kids get older they don’t want to use something named Kiddie. Well we hear everyone loud and clear and will have an answer for that very shortly. Stay tuned.
These responses have been edited for grammar.