SPARO Simple and safe loans between friends

“Banking is essential, banks are not”

- Bill Gates

“I don’t see the difference between

my bank and all the others”

The 4 leading banks are in the ten least loved brands by millennials 71% of millennials would rather go to the dentist than listen to banks 1/3rd don’t believe they need a bank Half are counting on tech start-ups to overhaul the way banks work

Source: NPS measures loyalty and advocacy

Huge Market

$900 billion in credit debt

$140 billion spent on interest each year

70 million “unscoreable” Americans

130%

Bill

ions

(USD

)

Source:  Founda-on  Capital  

Total Debt

Credit Score

The Lifecycle of Debt and Credit Scores

Source: Credit Karma

Sparo allows you to use your social credit on a simple, transparent and legal platform

SPARO Sign In

BUILD COMMUNITY

How much will you borrow? Borrow For how long?

Make a Loan

How It Works

Simple and safe loans between friends

SPARO Erin Help

Rating: B

6 Months

Amanda Jones

$1,200

I need to refinance my credit card debt. I just graduated and I’ll be able to pay off the total amount in the next few months once I start my job.

LEND

�

John Smith

Amount: $500

Rating: C 6 Months

Filters:

Relationship

�� Friend � Friend of Friend � 3rd Connection � Out of Network

Amount

� $0 - 500 � $500 – 1,000 � $1,000 – 5,000 � $5,000 - $10,000 � $10,000 +

Duration Rating

Location

Loan Purpose

Employment

Kelley Brown

Amount: $500

Rating: A 6 Months

SPARO Erin Help

Amanda Jones

Amount: $1,200

Duration: 6 Months

Rating: B

I need to refinance my credit card debt. I just graduated and I’ll be able to pay off the total amount in the next few months once I start my job.

CONFIRM

Purpose:

Set Interest Rate:

% APR 0 30 7.5%

Total: $1,245

•  Marketplace •  20-40 year olds •  Individual focus •  Community based

credit score •  Simple interface

VS.

Go-to-Market

Pricing

PayPal model of cash incentives for first users Network effects and social sharing

10% of the interest paid per loan

Pre-Seed Financing $70,000

Prototype: $30,000

Legal: $30,000

Hosting: $2,400 Accounting

& finance: $5,000

Introduction to developer

What We Need

Goals

Establish legal framework

Build out functional prototype

Test with users

Pre-seed financing

Advisors

•  Marketing & Design •  Tulane & LSE,

Economics, Phi Beta Kappa

•  Finance & Data Science •  BlackRock •  UCLA, Math & Economics,

Phi Beta Kappa

Nick Handel Erin Kavanaugh

Website: SparoApp.com

Twitter: @sparoapp

Email: elkavanaugh@gmail.com

nicholas.handel@gmail.com

Who We Are Contact