Founded in 2006, GreenSky Credit is an Atlanta-based Financial Technology firm that provides credit programs as well as technology to banks and merchants that provides loans to their consumers. Bloomberg reports that services include: same day funding for submitted invoices, account management, collections management, invoice verification, credit services, and online transaction management.
Forbes met with GreenSky’s CEO, David Zalik, to learn first-hand of Zalik’s background and path to success. Forbes reports that GreenSky is ranked third in value as a fintech company, with the CEO landing at billionaire status. Zalik shares the success behind his unique business model in which home remodel contractors are the consumers reached through the company’s sales team pitching their user-friendly mobile device apps. Zalik found an opportunity in this market where GreenSky provides easily accessible and quickly-delivered loans for average scoring FICO consumers.
Between the banks and contractor deals, GreenSky Credit’s model allows the company to profit on both sides of the deal. GreenSky Credit serves as a modern-day middleman and is not constrained by defaults.
Forbes continues to share the story of the businessman who built the company. Zalik’s family moved from Israel to Alabama when he was just 4 years old. He scored exceptionally high on the SATs and enrolled in college classes at age 16. During his college education, Zalik established his first company called Microtech, where he had dropped out of college to focus on his company before selling the 20-person company for a few million dollars at age 22.
After being involved in starting two other companies that ultimately failed, Zalik continued on the challenging path to success even after establishing GreenSky Credit. He was determined through his efforts of begging contractors to a $200 Million deal falling apart, but success was found after many would have given up. With Nigel Morris’ partnership and investment in the company, GreenSky surged to unicorn status.