The Y Combinator-backed platform reinvigorates its look and feel as it launches out of alpha to provide a free and easy way to loan money to loved ones
MIAMI–(BUSINESS WIRE)–Pigeon, the free platform that takes the awkwardness and headache out of loaning money to family and friends, is launching out of alpha and renaming itself from “Pigeon Loans” to “Pigeon”, to start the new year. The simplified name and refreshed brand identity is inspired by the company’s mission to make it effortless to create loans with those closest to us – providing a smarter way to manage the complex emotions and struggles associated with interpersonal loans.
Noticing the financial troubles of a loved one during the pandemic, founder Brian Bristol created Pigeon to help out a family member in need. With no tool to fully support the process of loaning money, sending reminders, keeping track of payments, and more, Brian created Pigeon as an all-in-one solution that could solve these problems. Now two years into the brand’s journey, Pigeon is launching their widely anticipated iOS and Android app – available for all – to make loans with friends and family painless.
Since 2020, the Y Combinator-backed platform has raised nearly $3 million in funding, and in that time has helped folks lend over $2 million to friends and family in need. Whether a loved one needs help covering unexpected expenses, kickstarting a business, or is struggling with an emergency, Pigeon supports the entire loan process from beginning to end. By keeping track of IOUs, setting up payment schedules, moving money online, sending automatic reminders, encouraging on-time payments, educating their users, and more, Pigeon’s goal is to revolutionize the interpersonal finance industry.
“Pigeon is building an entirely new category – anytime you think about mixing your finances with your relationships, you’ll think of Pigeon,” said Brian Bristol, founder and CEO of Pigeon. “We are redefining the way people help one another, making the lending process smarter, and helping prevent confrontations that often strain relationships.”
Pigeon is a fierce advocate of educating its users on financial best practices. Their app offers a hub of valuable advice on financial matters both on and outside of lending money to family and friends. This includes advice on tax services, personal loans, building credit, financial business tips, retirement investing, and more available on its blog, The Nest.
The app is downloadable on both iOS and Android, is completely free to use, and is available in more than 40 countries. Anyone who is familiar with using other popular financial apps will love Pigeon’s unique commitment to their community and helping others.
“There is often guilt, shame, and fear associated with helping friends and loved ones with money, and that shouldn’t be the case,” he added. “Pigeon is trying to solve these emotional problems by equipping people with the tools they need to responsibly help those they care about the most, in times of need. With a growing community of 18,000+, we are excited to launch our app so that thousands more across the globe will be able to use our platform to help others.”
Pigeon is dedicated to helping people facilitate, create, and manage loans between loved ones around the world. The all-in-one solution makes it easy to track loans and offers a smarter alternative to IOUs by eliminating the shame and discomfort associated with lending or borrowing money. The app is free for everyone, and is available on desktop, Android, and iOS. To learn more about Pigeon, visit usepigeon.io.