Backed is a digital lending platform that reduces borrowing costs for millennials by mitigating co-signing risks for parents. Backed was founded to address the 26% of young adults still living at home, 86% of millennial applicants declined or overcharged, and the 63% of millennials without a credit card. By combining sophisticated machine learning algorithms, a progressive loan application process, and enabling parents ('Backers') to effectively lend their credit history to their children in exchange for lower rates, Backed helps millennials launch their financial independence.

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