Carlo Kobe, CEO of Fizz, on building a great financial app for college students

Fintech One•On•One

[Editor's note: This is our last podcast of 2024. We are taking two weeks off and will be back on January 9. Happy Holidays everyone!]

The 20 million college students in the US today, while a vast market that is somewhat homogenous, has not been a focus for many banks or fintechs. Since the Card Act in 2010, credit card issuers have not been able to set up shop on campus trolling their wares. That has left a wide open market that no company has dominated, at least not yet.

My next guest on the Fintech One-on-One podcast is Carlo Kobe, the CEO and Co-Founder of Fizz. Carlo is a Gen-Z founder with a financial app focused squarely on Gen-Z consumers, specifically college students. He maybe the youngest founder I have ever had on the show, but don't let his youth fool you. He is a deep thinker and quick learner and his thoughtful approach to the market has Fizz well positioned for success.

In this podcast you will learn:

• The formative experience as an international student that sparked the idea for Fizz.
• How prepared college students are for adult financial responsibilities.
• The attitude of college student towards credit cards.
• How Carlo describes Fizz today.
• How they created a debit card that helps build credit.
• How they are underwriting these college students for their line of credit.
• How they are able to empower college students to manage money.
• Where most budgeting tool fall short and how Fizz is different.
• How they calculate their "Available to Spend" number.
• Why they decided to build their own tech stack.
• The two partner banks they are working with today.
• How they were able to raise $14 million from Kleiner Perkins.
• How they are marketing to college students.
• Why they intend to let their customers go after they age out past 25.

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