NEW YORK, Dec. 13, 2017 /PRNewswire-USNewswire/ -- While bike-sharing has become a viable transportation option in major cities, many college towns still don't have vendors that provide this service. In most college cities and towns, transportation options are limited, especially at large universities located in small metro areas where parking and public transport are in short supply.
To expand its presence in this growing market, Lenny Bike, which offers custom bike-sharing solutions, is working with GenFKD, a not-for-profit financial literacy organization that maintains a network of student organizations on more than 30 college campuses across the nation.
"We spend a lot of time on college campuses and have noticed that many of them lack convenient transportation options for students — namely successful bike-sharing programs," said Justin Dent, executive director of GenFKD. "We are excited to tap into our student-run network to expand this company's innovative transportation solutions."
Lenny Bike is an app-based service that offers students access to a large pool of bikes on college campuses. The app locates the nearest available bike, and once students complete their ride, they are able to leave them on any bike rack on campus or any authorized location off campus.
The Lenny Bike app also helps students build credit through its flexible payment options. Currently, the majority of young people have little to no credit history and lack understanding of how to improve their credit scores. According to LendEDU, 60 percent of millennials have credit scores below 600 and 25 percent don't know anything about credit scores.
"We believe GenFKD is an ideal organization for us to work with in many ways," said Joe Bayen, founder of Lenny Bike. "GenFKD is building a grassroots movement that promotes financial literacy among millennials, and that's exactly what we're setting out to do with the credit-building element of our app. Lenny Bike not only provides the most effective way of getting around college campuses, but it also helps students build a solid credit history, which will help them start their post-collegiate lives on a stronger financial footing."
GenFKD's relationship with Lenny Bike builds on its mission to provide students with the opportunity to improve their financial literacy skills and increase their ability to thrive after graduation.
GenFKD is a not-for-profit organization designed to increase young Americans' understanding of financial literacy, entrepreneurship and skills necessary for careers in the new economy. The organization aims to help young adults better understand the new economy and provide better outcomes for students after graduation.
About Lenny Bike
Lenny Bike, a subsidiary of Lenny Credit, is a mission-driven bike-sharing program dedicated to solving mobility problems in campus and cities. The company also integrates unique payment solutions aimed at helping millennials establish and build credit histories at an early age. Learn more at www.lennybike.com.