Sponsored by

Hi, fintech fam! 💜

After 4 sold-out events hosted in New York City and San Francisco, I’m so excited to be back kicking off New York Fintech Week 2024. 

I’ll be hosting a Leadership Summit at Rise By Barclays on April 8th, a place for the fintech community to grow and connect through workshops, panel discussions, networking opportunities, and more. 

The evening will end with a crowd favorite – our 1-hour Storytelling Event featuring industry-leading female founders, CEOs, and investors sharing their untold insights into navigating the fintech landscape. 

Only 50 presale tickets are available, Grab yours here before the speaker faculty is announced!

Interested in partnering with me during New York Fintech Week or another industry event? Respond to this email or fill out this form, and let’s chat. 

Now, onto this week’s fintech news!

PREMIUM

Absolutely loving this newsletter? Accelerate your fintech career by becoming a premium Fintech Is Femme community member. You’ll continue to receive our value-packed content and gain access to exclusive networking meet-ups, invaluable warm introductions, and even one-on-one consulting time with yours truly. Now, that's what I call a power move!

Reasons Why This AI Investment is Winning

RAD AI's award-winning tech is disrupting the $633B industry. 6000+ investors, including VCs, execs at Google and Amazon see its potential. $27M raised, 3X revenue growth, elite clients. Backed by Adobe Fund for Design. Invest now.

83% Subscribed, Invest Before Feb. 16th, Closing Soon.

Disclosure: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai 

#TRENDING

What’s Up In Fintech

Every Thursday, I share news stories and trending pieces I follow. Think of it as a way to quickly find the most important news in the fintech world.

#1 Alinea Invest Raises $3.4M, Gets Ready to Launch AI Financial Adviser

Alinea Invest, a female-founded fintech, secured $3.4 million in seed funding, announced this week.

The company boasts 225,000 app downloads, generating a revenue run rate of $1.8 million and achieving profitability for its lean six-person team, reported TechCrunch.

Pioneering a subscription model priced at a flat $120 per year, Alinea is set to enter the artificial intelligence market with a new AI financial adviser, enhancing its existing stock recommendation system.

The interactive feature, scheduled for release later this year, aims to provide personalized investment guidance.

The recent funding, led by F7 Ventures and GFR, included participation from Worklife Ventures, FoundersX Fund, Gaingels, and Dropbox co-founder Arash Ferdowsi.

Alinea had previously raised $2.3 million in a pre-seed round.

Why It Matters

Creating a B2C fintech company in today's saturated market involves more than just promising wealth creation. 

It's about crafting an immersive experience that resonates with consumers on a deeper level, fostering a sense of purpose and connection.

For fintech companies, investing in community building is essential.

Gen Y and Gen Z are the new wealth builders. They make up almost half the U.S. population and inherit around $541 billion annually.

Plus, this younger demographic is a diverse and socially conscious group that uses digital financial services to earn money and make a positive impact.

Alinea found its product-market fit by targeting this specific demographic— younger Gen Z investors, with 80% of its users being women. 

That success makes sense given the fintech company was founded by Anam Lakhani and Eve Halimi at 25, and achieved notable success quickly, securing $2.1 million from Y Combinator in 2021.

The founder’s authenticity has cultivated a strong community of users, built on trust rather than merely targeting the app's demographic.

Anam and Eve utilize TikTok as their content marketing strategy — sharing their personal finance stories, connecting with their community, and gaining insights for feature development.

Alinea Invest's community even played a pivotal role in responding to the Roe v. Wade decision. Investors rallied around companies supporting reproductive health care, showcasing the power of community-driven actions.

This underscores the importance of building a community founded on trust, transparency, and shared values.

Alinea's success shows that building a community in fintech by providing value-driven content that enhances human connection is important for profit-making.

By providing resources for financial education, engaging with experts, and supporting social causes, fintech companies can foster a sense of purpose and connection.

This strategy ensures customer loyalty in an era where community-focused fintechs are reshaping market dynamics.

#2 World Economic Forum: Linking Female Representation to Fintech Success

Recent data from the World Economic Forum sheds light on a crucial aspect of the fintech industry’s success—female representation at executive levels. 

The findings reveal that fintechs are emerging as a force for positive change, particularly in their commitment to widening access to finance for traditionally underserved populations worldwide.

Contrary to the conventional financial sector, fintechs lead the charge with a stronger representation of women in executive roles. 

According to the World Economic Forum's survey, the fintech sector surpasses the finance industry average, aligning more closely with the technology sector in terms of female executive representation.

Delving into the numbers, the survey reports that, on average, 33% of executives in fintech companies identify as female. This contrasts with the financial services industry, where only 18% of C-suite positions are held by women.

Meanwhile, a 2023 report by DDI World highlights that technology companies globally boast 28% of women in leadership roles.

(I cannot wait to improve these numbers by providing women with tools to succeed via our Leadership Summit this April). 

Interestingly, the data reveals a consistent pattern in female executive representation across both emerging markets (33%) and advanced economies (32%). 

However, when examining regional disparities, fintechs in Europe trail behind, with female representation at 30%.

Why It Matters

McKinsey underlines a positive correlation between the number of females in leadership roles and a company's financial performance. 

It seems that fintechs are reaping the benefits of this correlation, outperforming less gender-diverse companies in terms of market performance.

Companies with over 30% female executives showcase notable financial success, and fintechs are no exception. 

Plus, the study demonstrates that fintechs with a higher-than-global-average rate of female executives exhibit a stronger orientation toward female customers.

The correlation analysis further illuminates the positive relationship between the presence of female executives and key indicators. 

Fintech companies with a significant representation of female executives experience a noteworthy 12% increase in their female customer base. 

This positive trend extends to product offerings, with a substantial 30% increase in products designed to target female customers.

The significance of these findings reverberates on a global scale. 

Fintechs that embrace gender equality in leadership contribute to financial success and the broader goals of reducing inequalities and promoting gender equality worldwide.

Ultimately, the infusion of female leadership in fintech is proving to be a game-changer, unlocking new possibilities for market performance and customer base expansion. 

As the industry evolves, fostering diversity at the top levels is not just a matter of representation—it's a strategic imperative for sustained success and global impact.

#3 Manhattan DA Calls Out Payment Apps

Manhattan District Attorney Alvin Bragg has raised serious concerns about popular payment apps like Venmo, Cash App, PayPal, and Zelle, branding them as hotbeds for criminal activities, as reported by CNN.

Bragg sheds light on a range of culprits, from tech-savvy swindlers exploiting locked cell phones to violent offenders resorting to physical harm and manipulation. 

The situation has escalated to the point where Bragg has issued a stern letter to these apps, urging them to bolster security measures. 

The proposed measures include lower transfer limits, enhanced password security, extended wait times for large transactions, and increased monitoring for suspicious activities. 

Why It Matters

A 2022 letter from Senator Elizabeth Warren's office underscores the situation's urgency, revealing a tripling of fraud claims in the banking industry between 2020 and 2022. 

Zelle, in particular, was a focus of the investigation, highlighting the prevalence of fraud and its escalating nature. 

The letter from Bragg emphasizes the need for proactive steps to protect consumers, stressing that failure to do so could lead to further illegal activities and harm unsuspecting victims.

Of course, both Venmo and PayPal, its parent company, responded to Bragg’s comments by asserting their commitment to safety and security. 

They highlight their use of advanced fraud detection tools, manual investigations, and collaboration with law enforcement.

Zelle acknowledges isolated criminal incidents and underscores its dedication to providing a safe service, with a minimal fraction of transactions reported as fraud or scams.

Bragg's concerns stem from numerous criminals seizing opportunities on payment apps. 

From robbing drunk victims to coordinated thefts from Lyft drivers, the misuse of these platforms has resulted in physical harm and financial losses. 

These criminal activities are not confined to New York; major cities across the country are witnessing a similar surge in this alarming trend.

In Bragg's view, prevention is crucial, and this initiative aims to address ongoing criminal activities and raise awareness about the risks associated with cash app thefts. 

The call for enhanced security measures becomes more pressing for the fintech industry, emphasizing the need to balance convenience, innovation, and user safety.

_{MARK YOUR CALENDARS}

Join us every Thursday to stay updated on the top fintech events each week! These events are a great way to network, learn, and connect with our fintech community. Let's fill our calendars with these awesome events - I would love to see you there! If you have an event to share, please inform me!

_{WEDNESDAY 1/31}

[NYC] Building the Next Era of the Internet with a16z: Curious about the buzz surrounding blockchain technology and its role in shaping the digital landscape? In this live taping of the Next Big Idea podcast, venture capitalist Chris Dixon of Andreessen Horowitz will share his bold vision for Web3 — and offer actionable insights to help creators, entrepreneurs, and executives thrive in the internet’s next era.

_{MONDAY 4/8}

[NYC] Fintech Is Femme Leadership Summit: Mark your calendars for our big event on April 8, kicking off NY Fintech Week! Details are here, and I can't wait to announce the agenda and speaker faculty soon! Early-bird tickets here.

_{WEDNESDAY 4/10}

[NYC] Empire Fintech Conference: Witness the convergence of the fintech community in the heart of my beloved hometown, the ultimate city of my choice — and I absolutely insist on seeing each and every one of you there! Secure your ticket before prices rise, and trust me, you cannot afford to let this extraordinary event slip through your fingers. RSVP here.

_{HUMANS OF FINTECH}

Alinea: Making Investments Accessible

What happens when you’re frozen out of financial conversations because of gender and ethnicity?

You start your own.

Eve Halimi and Anam Lakhani are the first-time founders of Alinea Invest, a community-driven money app that offers financial education, news, stock, and crypto investing.

Eve, Anam, and I explore why so many women aren’t taught how to save and invest, the importance of non-predatory platforms, and how Alinea got funded despite investors not getting the problem or seeing the need for a solution.

Get to know Alinea by clicking here.

_FINTUNES

🎵 Nicki Minaj - FTCU

I’m playing catch-up listening to Nicki's new album (it dropped in December), but this track is one of my favorites. Her bars give me chills every time, and it's a perfect song to listen to while weightlifting.

That’s all for now! Stay safe, everyone. Hug your loved ones. See you Sunday!

Love,

Nicole

📰 Newsletter | 🔗 LinkedIn | 🤝 Partnerships | 🎤 Speaking |📱 @fintechisfemme