Eric Blue founded Nevly in 2021 to leverage technology to build technology products that improved users’ financial health. Many CEOs have ideas that come to them in one way or another, and Blue’s story behind Nevly starts through life experiences.
Nevly’s been in the making for decades. Growing up in a challenging situation with a single mother in New Orleans, Eric Blue wishes that his mother and the countless numbers of financially challenged consumers had a platform like Nevly to lean on. Nevly’s mission is centered around leveraging technology to build products that have the potential to fundamentally change financial health outcomes.
Growing up in New Orleans
Eric Blue’s story starts in New Orleans, facing adversity early on. At one point, the State of Louisiana took Blue and his siblings away from his mother due to some challenges that his mother struggled with at that time.
After eight years of struggling to beat addiction, land consistent employment, and show general improvement, Eric’s mother proved to the State that she deserved another chance and regained custody of her children.
When the time came, Eric Blue was 12 years old, while his siblings were over 18 and not required to live at home. This left Blue and his mother alone, looking to build a stable life together.
Overcoming all the adversity gave Blue and his mother hope, but they found it very hard to fix their financial health. For many years they rented, which came with the risk of eviction while trying to regain financial stability.
It was difficult to take the next financial steps as Eric and his mom had no one to lean on; a common narrative Eric Blue heard from others who grew up in a similar financial situation.
Crafting the Idea of Nevly Through Education and Work
Blue graduated high school and went to Xavier University of Louisiana to major in mathematics. After graduation, he worked as an investment banker. Getting a chance to work professionally built up a work ethic and showed him how a stable income could make significant changes and break a family’s poor financial cycle.
After years of investment banking, Eric Blue applied for law school. He attended the University of Texas School of Law, walking away with a law degree, which opened up more opportunities for himself and his family.
With a quality job history and a new law degree, many jobs presented themselves to Blue out of law school. He held positions as a corporate attorney with Akin Gump Strauss Hauer and Feld, LLP and later Baker McKenzie.
An attorney‘s level of impact is one thing, but Blue struggled to find purpose and self-worth in the work that he was doing. Setting off in search of purpose, he made his leap into entrepreneurship as the Chief Executive and Investment Officer of Valler Holdings Corp.
For the first time, Eric Blue felt like he had an opportunity to utilize the broad set of skills he had developed over time but still felt like something was missing and that feeling continued to eat at him everyday. He ran the company for just under seven years, with a strategy focused on investing in public and private companies.
Eric Blue’s leadership allowed them to reach new levels as a company, and he left to pursue his passion for enabling others with resources for financial health.
Blue’s time at Valler Holdings only left him desiring a new challenge that not only stimulated him mentally but also emotionally and spiritually. He wanted something that would significantly impact others while also challenging him to make the most out of his education, professional experience and personal struggles.
He came up with a business model focused on leveraging technology to develop products that were progressively designed, tailored to the unique challenges of those who need them the most and also had the capacity to learn and evolve as the user’s circumstances changed.
He saw firsthand how much stress and anxiety filled his mother’s life due to challenges involving all things money.
Blue views himself as an innovator, leveraging AI and advances in open technology to develop products that push Nevly into the pole position when it comes to enabling consumers to utilize its applications to tangibly change financial health outcomes. The company launched its inaugural product Nevly Money, which is focused on disrupting the U.S. credit repair industry.
The U.S. has nearly 100mm Americans who have a poor to bad credit score and many of them turn each year to legacy credit repair solutions. Blue views legacy credit repair providers as often making promises to consumers that are rarely kept and extracting $100s of dollars in fees in the process. Nevly Money was launched to provide consumers with a faster cheaper alternative.
Additionally, as Eric Blue Nevly prepares to launch its mobile application later this year, the company is laser focused on delivering the product that consumers say they need and continuing the two-way dialogue that has been established between the company on the one hand and consumers on the other hand. .
Nevly’s mobile application, launching later last year, seeks to build on the momentum from the company’s Nevly Money launch and as Blue states, only scratches the surface of what the company has in mind for its supporters.
It’s all about creating real solutions for consumers and building confidence one step at a time. With multiple products to drive positive financial health outcomes, Blue believes that change is coming and it plans to have Nevly in the pole position of the upcoming innovation wave.
Serving a Community Needing Financial Help
Blue lived through his early struggles and made it out. Others haven’t been as lucky. With Nevly, he hopes that the odds of helping people develop stronger financial health habits early on can eliminate financial burdens later in life.
There’s no way Blue could have predicted that technology would be at a point where something like Nevly could exist.
Through expertise in financial technology and building Nevly, Eric’s taking it upon himself to help break the vicious cycle of institutional poverty that results from poor financial health. He knows that knowledge is power, and the right tools open up opportunities.
The whole Nevly idea continues to evolve and develop, and 2023 is a big year launching new tools and information for users. The app is on stride to deliver the best suite of information and tools for consumers.