YOUNGSTOWN, Ohio (WKBN) – Recently, the Youngstown Business Incubator (YBI) announced that one of their startup companies received $11 million in funding.
The company makes a platform that will help people with debt management, namely, student debt.
Spinwheel is the debt management platform. They can’t get rid of your student debt for you, but they can help you look at it in the big picture.
“You can make payments for all of your loans in one spot rather than going to each individual service provider. And the bread and butter of it is is it lets you look at your debt in total,” said YBI Director of Marketing Corey Patrick.
The co-founders of Spinwheel saw how student debt was negatively affecting people, and this is their way of chipping away at it. The biggest pull for their app is how easy it is for users.
But why did two business partners living in the bay area of California choose Youngstown and Northeast Ohio to expand?
“For us, investing in Northeast Ohio is great because that was a big part of how we got this off the ground. We also see that this is sort of an untapped area,” said Tomas Campos, Spinwheel co-founder.
Not only that but Youngstown is situated near three universities, one of them being Youngstown State University.
“Because they are university-affiliated, a lot of these resources are actually students or recent graduates and so for us, it was an extra added benefit because now we got to work with people who are our target audience,” said Tushar Vaish, Spinwheel co-founder.
As a part of that $11 million they got from investors, they have to do a lot of hiring.
“They are committed to building their team in Northeast Ohio. They need everything. They need customer support. They need product managers. They need marketing, software developers. I mean, there are a lot of opportunities available,” Patrick said.
If you’re interested in a job with Spinwheel, the positions are remote. Applications are being accepted online.