Pandemic-induced hardships are boosting demand for credit monitoring, counseling and repair
- Dovly offers consumers the opportunity to maximize credit scores through their automated software.
- The company has increased its customer base by 160 percent this year.

When Nirit Rubenstein first met Tedis Baboumian, they immediately struck up a friendship over their shared experiences as immigrants and military veterans. Both had families who had financially struggled upon their arrival in the U.S. This struggle was amplified further by how hard it was to qualify for loans.
“We witnessed firsthand how lack of access to credit impacted our lives in serious ways. Our parents couldn’t even rent an apartment,” said Rubenstein.
In 2018, Rubenstein and Baboumian launched Dovly, a credit repair service that offers credit monitoring and ways to improve a credit score.
Consumer credit scores can dictate quality of life. Poor credit equals lost economic opportunities when it comes to mortgages, loans, retirement, rent, insurance and jobs. Higher credit scores, on the other hand, can open up avenues for financial security and wellbeing.
Dovly helps consumers rectify their credit scores. Its services are powered by an algorithm that optimizes credit score corrections. The Phoenix-based company also provides electronic communication with credit bureaus and 24/7 automated assistance on credit enhancement.
Although still in its early stages, the startup has grown since its initial launch in 2018. The platform is distributed through channel partners that sell Dovly’s services and can be utilized by companies using credit based decisions in their customer interactions. In 2019, Dovly partnered with Chime Bank and within the span of a year, expanded to include more than 10 channel partners. In June, Dovly raised $2.25 million in seed funding spearheaded by venture capital firm NFX.
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“Dovly is on a mission to empower everyone to get ahead financially. We seek to level the playing field by making our services affordable and accessible to anyone who needs it,” said Rubenstein. “92 percent of our users improve their score by an average of 54 points in less than 6 months. Some users have boosted scores over 100 points, opening doors to financial products that were never available to them before.”
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