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our mission

To empower individuals to control and proactively manage their personal financial situations.

our story

Who we are

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The personal finance dilemma

The US carries over $4 trillion in non-housing-related consumer debt. This translates to approximately $4,200 of debt per average household. Compare this to the $400 of average savings per household and the truth is Americans are financially over-extended. A sudden accident or an unexpected layoff from work can lead to financial ruin for many American families. In fact, by the end of 2020, the average credit card delinquency rate was 4.1% wor approximately $41 billion of debt we're in trouble of not paying back.

So we asked the question: why are we living on the edge of financial ruin?

We believe the answer is because credit is good - too good. Credit has allowed us to live the lives we want to live - to buy a home, start a new business, travel, have that dream wedding. But as we use up credit, that credit becomes debt. And when credit becomes debt and debt becomes a problem, that's where we saw something missing in how our financial habits are evolving and how we are currently managing our personal finances.

Currently, the personal financial framework we operate under is understood as having two pillars: spending and saving.

At Mully, we are passionate about fixing the way we manage personal finances. Founded in 2021, we are the first insurtech reimagining and redesigning credit insurance for today's modern lifestyle.


Pillar #1: Spending is up and access to credit has never been easier

Credit cards, online loans and most recently, the emergence of point-of-sale or POS loans, have allowed consumers like you and me to be able purchase items and experiences as our modern lifestyles demand.

Pillar #2: Savings rates are still lower than they should be

At the same time, the way we are saving money is evolving with the help of robo-advisors and automated savings apps but savings rates are still 3-4 times lower than what they should be.

​We believe this binary perspective is outdated and does not reflect the risks and changing financial landscape in today's digital age.

Our solution

We believe there is a third pillar - one that captures the risks associated with access to credit, growing consumer debt and ever-increasing economic uncertainties (i.e., the Great Recession 2008 and COVID-19 Pandemic 2020): insurance. More specifically, credit insurance.

​Pillar #3 (the "Mully" Pillar): Credit insurance to minimize your exposure to risk

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The "Mully" Pillar reframes the way we look at financial products (i.e., loans) to consider risk as part of the total cost of the loan. By doing so, Mully is reimagining credit insurance as a way to manage your debt and make it an essential part of your personal financial strategy.

By reimagining credit insurance as an essential tool in your personal financial toolbelt, we are one step closer to fulfilling our mission!

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