Beem’s AI Revolution at the Bottom of the Pyramid

At Beem, we are driving a financial revolution that aims to democratize financial services and achieve significant social impact alongside promising returns, making us the go-to platform for distributing goods and services to this massive segment of society. Learn more about us here.
Beem’s AI Revolution at the Bottom of the Pyramid
Line Financial, the creator of America's #1 Smart Wallet App, is expanding its AI capabilities to capture the $10 trillion in Annual Spending Power at the bottom of the pyramid in the US.
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Beem, the Public Benefit Corporation and developer behind America’s #1 Smart Wallet AppTM, is proud to announce that we are expanding the AI capabilities behind our remarkable success to address the financial needs of the bottom 80% of the US population, which resulted in the company becoming profitable by the end of the fiscal year 2022. While most fintechs have continued to focus on the top 20% of the US population, Beem serves financially excluded individuals through a novel AI-enabled risk assessment model, making it the perfect pioneer to capture this population’s $10 trillion in annual spending power.

Financial Inclusion-Driven AI Revolution

Founded in 2020 by seasoned fintech executive Akshay Krishnaiah, Beem is poised to address and rectify historically incorrect or inadequate risk profiling of this significant market segment. Krishnaiah’s extensive background, including his time at eBay and PayPal and impressive portfolio of 75 fintech patent publications, underscores our company’s potential.

Initially launched as a direct-to-consumer application, Beem offers America’s #1 Smart Wallet AppTM, an innovative AI-enabled platform that provides interest-free, subscription-based financial support without income restrictions, credit checks, or due dates. We have already accumulated over 1 billion transaction histories, significantly bolstering our AI capabilities.

We have made significant strides since our inception, with over 1.5 million registered users and a successful disbursement of over $50 million, effectively preventing over a million financial emergencies. Our AI-driven model has achieved an almost 100% recovery rate, further demonstrating the robustness of our risk assessment system.

Following this success, we are transitioning into an AI-first platform to facilitate payments and distribution of goods and services more broadly. Inspired by platforms like YouTube, Google and Amazon, Beem is set to become an ecosystem facilitator using advanced risk ranking and profiling capabilities. This strategic shift will provide opportunities for various industries to tap into this market at pivotal financial inflection points.

Facilitating Distribution of Goods and Services

Beem’s groundbreaking technology reinvented the entire fintech stack by employing reinforcement learning across various functions, including underwriting, collections, customer acquisition, finance, OpEx, talent acquisition, fraud detection, payment processing, marketing and customer support.

Our proprietary acquisition engine, co-piloted by generative AI, helped our content show up in over a billion searches by this population in 2022 alone. The journey that began there led millions of people to allow Beem to amass billions of transactional data to power its AI. This has helped us accurately risk rank and introduce relevant products and services across our platform and properties at the right inflection points for our users’ finance journey.

This has not only attracted several insurance companies, credit unions and others to not only engage with this population across Beem’s platform and properties but also co-design products with Beem tailored to the needs of this population.

More Innovation, More Inclusion, More Data 

As part of our expansion plan, Beem and Column Tax announced a partnership that offers free Federal and State tax filing services via Beem’s AI-Powered platform to capture more data to improve the AI while ensuring that users receive the support they need to maximize their returns and improve their financial stability. The new feature offers one of the most comprehensive and free Federal and State tax filings available throughout the year, as most folks in this segment file after the tax deadline (over 104M people are yet to file taxes in 2023). 

Beem’s service includes IRS penalty protection up to $10,000 and a maximum refund guarantee up to $250 towards any fees paid to any other tax filing software that delivers a higher refund. It allows individuals across every US region to file Federal and State taxes for free, no matter their tax situation. We also provide free IRS audit support and a repository of free resources and tools to support users with their tax filing. 

Pioneering Payments Revolution

Beem has emerged as a pioneer in rectifying the miscalculated risk profiles that plague individuals who lack proper financial infrastructure. The upcoming launch of Beem’s “Send Now Pay Later” service (currently in Beta) has already garnered significant interest, with over half a million people on the waitlist. 

We use our AI platform and risk ranking capabilities to facilitate “On-Us” instant transactions while not requiring recipients to be on Beem or have a bank account. This innovative approach extends beyond our own ecosystem, allowing users to send money to others via SMS, email, social media apps and other methods. 

This new service not only poses a strong competitor to established platforms such as CashApp, Venmo and PayPal but, alongside its generative AI capabilities. This is set to increase user engagement further and expand the delivery of relevant Beem, partner, and third-party services.

At Beem, we are driving a financial revolution that aims to democratize financial services and achieve significant social impact alongside promising returns, making us the go-to platform for distributing goods and services to this massive segment of society.

“I believe most people are good people, and at Beem, we embrace the power of prioritizing purpose over profit. By placing the needs of the underserved population at the forefront of everything we do, we have not only achieved remarkable financial success but also created a paradigm shift in the industry. We’ve already attracted the attention of prominent insurance companies, credit unions and other industry players eager to partner,” says Akshay Krishnaiah, Beem’s founder and CEO. To learn more, click here.

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Picture of Akshay Krishnaiah

Akshay Krishnaiah

Millennial, Immigrant, Uber driver (36000 mi) turned Techstars fintech startup founder @Beem (FKA Line). Previously Product Leader @PayPal (75 consumer fintech patent publications). Dad, Husband, Brother, Proud son of parents who came from extreme poverty, worked hard to give us great education, tolerant values and culture.


This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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