Tefari is on his way towards fulfilling his mission of providing financial wellness achievable for everyone after his life changing experience on Dragons Den.
Tefari Bailey is the founder and CEO of Hutsy Financial, a financial super-app, you can spend money, build credit, advance paycheck, and receive instant cash back on all of your purchases. Bailey hopes that his new financial company will disrupt the Canadian bank industry.Bailey started off as an entry level bank teller until eventually becoming a financial and investment advisor. Bailey recalls when people would attempt to see him on a daily, weekly, monthly basis in order to get a loan just to pay for something small, such as a car tire replacement, an emergency medical bill and things of that nature.unfortunately he didn’t have the authority to approve or decline loans.
As an advisor his job was just to input the information into the system and the adjudication team takes it from there. Bailey would then see the ones who got declined go to a payday loan in the same plaza and get caught up in that horrible 300 percent interest cycle. Hutsy plans on changing that by offering no monthly fees, credit building and money management programs and more.
Hutsy currently has 15,000 people on the waitlist and a $500,000 investment from one of the dragons on dragon den. Hutsy is looking to launch between June and August of this year.