Brigit was named to FastCompany’s prestigious list of the World’s Most Innovative Companies for 2022. This year’s list honors businesses that are making the biggest impact on their industries and culture – a major focus for Brigit, which promotes sustainable financial health by helping everyday Americans save for their future.
The list, which saw a record number of applications this year, features 528 companies across 52 categories that are reshaping the future. These companies have not merely survived, but thrived, two years into the pandemic, and show by example how to creatively problem-solve in their fields.
“We are thrilled to make FastCompany’s list of the World’s Most Innovative Companies,” said Brigit founder and CEO Zuben Mathews. “It’s a prestigious group and we are so honored to be featured alongside them.”
Hamel Kothari, co-founder and CTO, added, “The COVID-19 pandemic forced us to innovate and meet the challenges of not only being a startup company, but also do so in a time of immense global turmoil. We had to be nimble in our thinking, responsive to our members’ needs, and fast on our feet. In March 2022, I am proud of how far we have come and optimistic for the future.”
Brigit is a holistic financial health app that helps everyday Americans build a better financial future. It helps its members understand their patterns of spending, avoid overdrafts and other fees, get cash advances as needed, spend more wisely and save for their future.
Since its launch in 2019, Brigit has had a massive impact: As of February 2022, the app had advanced cash to its members 10.6+ million times, for a total of over $900 million. In 2021 alone, its members saved $171 million in overdraft fees.
During the pandemic, in response to an increase in identity fraud, Brigit mobilized to offer its members up to $1 million in identity theft protection and the ability to monitor their credit scores. But its most innovative resource has been its transparent and easy-to-use Credit Builder tool, launched in August 2021.
In the United States, a robust credit score can make the difference between an affordable rate of interest and a debilitating one. For instance, those with bad scores will end up paying nearly $100,000 more in additional interest on a single mortgage and single car loan than their higher credit counterparts. Brigit launched Credit Builder precisely to address this kind of problem for its members.
With Credit Builder, Brigit’s members can gain access to fairer, more mainstream financial products and move away from the predatory pricing they are otherwise forced to use. And unlike alternative solutions in the market, which are often riddled with hidden fees, upfront deposits, and interest, Brigit’s Credit Builder allows members to build their credit at a fraction of the price, making it accessible to more consumers than any other product in existence today.
FastCompany’s deputy editor, David Lidsky, explained that the companies on the 2022 list were chosen because they “play an essential role in addressing the most pressing issues facing society.”
For the second year in a row, to coincide with the issue launch, FastCompany will host its Most Innovative Companies Summit on April 26-27. The virtual, multi-day summit celebrates the companies on its list, provides an early look at major business trends and an inside look at what it takes to innovate in 2022. Fast Company’s Most Innovative Companies issue (March/April 2022) is available online here, as well as in app form via iTunes, and on newsstands beginning March 15. The hashtag is#FCMostInnovative.
ABOUT BRIGIT
Brigit is a holistic financial health app that has helped more than 3 million Americans get a handle on their finances through budgeting tools and insights into their spending patterns; get a break from unfair fees; and build their credit scores. Its mission is to help everyday Americans save for a better future, and to do it without charging predatory fees. Since the company’s launch in early 2019, it has saved its members more than $300 million in fees, and 91 percent of Brigit’s members report feeling less financially stressed. Brigit is backed by Ashton Kutcher, Kevin Durant, and Will Smith, among others.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business,innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, FastCompanyis published by MansuetoVentures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
