Propel, the software developer behind the Providers app, offers free debit card accounts and grants users access to job opportunities, discount coupons and savings tools.
Jimmy Chen, founder and CEO of Propel, the software developer behind the Providers app, which offers free SNAP benefit tracking and debit card accounts while granting users access to job postings, discount coupons and savings tools.There’s no shortage of fintech startups tackling business loans, mortgages, and student and consumer debt, but Brooklyn-based Propel is focusing on financial services for low income families and it just raised $50 million to keep growing.
Propel started when CEO and founder Jimmy Chen left a big-shot product manager job at Facebook in 2014 to launch his own startup through a Blue Ridge Labs fellowship later that year, with a vision to bring dignity and ease to the experience of receiving and using benefits, specifically food stamps. The mission is personal for Chen who remembers what it was like to grow up in a household that struggled with food insecurity.
Propel raised $50 million in a Series B round led by Nyca Partners, joined by other investors including JPMorgan Chase, Salesforce Ventures and Andreessen Horowitz. This round’s capital injection brings the startup’s total funding to $80 million since its Series A in 2018.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
2 women sent to prison for committing $1.2M in food stamp fraudTwo women are facing prison time for committing $1.2 million in food stamp fraud in Texas.
Consulte Mais informação »
Best Benchmark Software of 2022The best benchmark software helps you keep track of your PC's performance, whether you're building a new rig or getting ready to upgrade.
Consulte Mais informação »
Why pay $50 per bulb when Sylvania LED smart bulbs are $7 each?If you're looking for great LED smart bulb deals you've come to the right place. Don't pay $50 when Sylvania bulbs are $7 each.
Consulte Mais informação »
Roofstock valued at $1.9 billion with new funding round led by SoftBank Vision FundDigital real estate platform Roofstock closed a $240 million Series E equity financing round, achieving a valuation of $1.94 billion.
Consulte Mais informação »
Roofstock valued at $1.9 billion with new funding round led by SoftBank Vision Fund 2Digital real estate platform Roofstock closed a $240 million Series E equity financing round, achieving a valuation of $1.94 billion.
Consulte Mais informação »