1. THE COMPASSIONATE COLLECTOR.
- Author
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FELDMAN, AMY
- Subjects
MEDICAL personnel ,BUSINESS consultants ,CHIEF strategy officers ,HOME health aides ,SOUND studios ,BAIL - Abstract
Phaedra Ellis-Lamkins is the CEO of Promise, a software startup that helps municipalities collect unpaid bills. The company offers consumer-friendly payment plans with zero interest and multiple payment methods. Promise has been successful in helping cities like Richmond, Virginia, collect on unpaid utility bills, with 93% of participants making payments on time. Ellis-Lamkins, a Black woman who grew up on welfare, aims to prove that a venture-backed company can be successful without being exploitative. Promise focuses on state and municipal governments and utilities, differentiating itself from other fintech startups that offer high-interest loans to struggling customers. The company has seen significant revenue growth and has contracts with utilities and municipalities in several states. Ellis-Lamkins plans to expand Promise's services beyond utilities to include parking tickets, local taxes, and identity and income verification. [Extracted from the article]
- Published
- 2024