LiftRocket

LiftRocket is a data powered Fintech platform that lends to families involved in Youth Sports Leagues. The cost of equipment, travel, training and other expenses are the single most important impediment to long term participation in youth sports.  Keeping children involved in sports is a very high priority for both families and leagues and ultimately represents a huge benefit to society.  LiftRocket offers the solution by partnering with the Leagues to provide small loans through an easy-to-use lending platform that becomes a trusted resource for the whole community.  In Youth Sports alone, the company addresses a total market of more than $11 Billion in potential annual loan volume. 

 

Management Team 

Leo D’Acierno, CEO of LiftRocket, is an experienced entrepreneur and Fintech CEO with two successful exit sales.  He is an expert in financial services, having led consumer loan restructurings at Citibank and GE Capital and driven growth and performance improvement strategies for American Express, Fannie Mae and Wells Fargo.  Senior Advisor at Simon Kucher and Partners, Partner at Bain and Company, Managing Director at Accenture and Senior Executive at TDAmeritrade. Leo has an AB from Harvard. 

Vas Paruchuri, COO, is an innovator in the application of leading-edge artificial intelligence and data science to complex investment and risk management challenges.  He engineered core systems for an insurtech company acquired by Aon.  Portfolio Manager (Credit, rates, and FC) at HSBC Global Asset Management and at Ellington Capital.  Designed and built systems for mortgage origination, algorithmic futures trading and digital insurance originations.  Vas has degrees from Cornell and Harvard and is a PhD in theoretical physics.

Management has invested 1 Mil of their own funds to develop the platform which is ready to begin lending.

Total Addressable Market of $11B a Year Loan Volume in Youth Sports
 
Most families, even at higher income levels, report some financial strain from youth sports participation.  Conservatively, spending on youth sports per child averages almost $700, with many families footing the bill for two or more sports per child, sometimes with multiple children.  Very expensive sports like Ice Hockey, a key market for LiftRocket, involve total costs at over $2,500 per annum per child.   LiftRocket’s platform is easy to use and becomes a trusted resource for families. 

The Lift Card loan funds a card that allows for purchases everywhere a credit or debit card can be used.  The card can be funded up to $6,000 from a Lift loan and repaid automatically from payroll or directly from the family's bank account over 12 months (max.) so families start the next season with a clean slate.  For families that are more fortunate and still want to help the team by participating in the LiftCard spend management system, they will fund the LiftCard with a certain amount and use it to make purchases like a debit card, which earns scholarship rewards points for the team.

Go to Market Strategy 

LiftRocket’s Go-To-Market strategy is to partner with community organizations to reach their members.  The organization helps them reach end borrowers through email, the organization’s website, or onsite awareness.  The organization verifies that members are active when they apply and encourages members to use the Lift Card to fund participation expenses and remain in the League. The League receives “reward points” that may be used for scholarship aid.

 

LiftRocket’s core market is families of all income levels who would benefit from smoothing out payments, potentially lowering rates, lowering fees, and importantly, avoiding tapping credit cards or lowering their credit scores. These families have modest credit available and are trying to preserve savings yet have the capacity to handle bite size repayments.

 

LiftRocket originates income-based loans with automatic repayment directly from the borrower’s bank account or payroll. LiftRocket gets paid first while still allowing the family to afford normal operating expenses.
 
 Competitors 

LiftRocket competes against traditional forms of financing, mainly credit cards and has no known direct competitors. LiftRocket’ s fees and interest rates are comparable to credit cards, yet LiftRocket may be used in addition to credit cards or instead of them.  LiftRocket does not tie up these existing forms of credit and does not reduce credit scores.  Lending is community based and represents both a trusted resource for parents, and an important tool for Leagues to maintain and increase membership.

Current Funding
The company is raising 1.3 Mil in Seed equity to fund operating expenses and launch the first originations from the fully operable platform and establish a  track record.  See projections in Teaser and Deck.

For Further Information Contact:
Ximena Vaca
Bexis Capital
[email protected]
202 441 2200