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Hi, fintech fam! 💜

Anticipation is in the air as we gear up for a booked and busy fall!

We're kicking off the season with our next in-person event, the Fintech Is Femme Creator Summit.

This is the ultimate gathering for founders, business leaders, content creators, and entrepreneurs. Join us in NYC on September 9 for a day packed with actionable insights and meaningful connections to elevate your business and career.

Why attend? Because business leaders are content creators, and content creators are business leaders.

This Summit bridges the gap between business leadership and content creation. It’s a premium event for business leaders eager to harness the power of content for growth and for content creators aiming to build successful businesses.

Our speakers, soon to be announced, have scaled profitable startups and businesses through content creation while leveraging fintech to manage their growth. If you want to:

• Connect with ambitious business leaders and creators

• Learn how to use storytelling to drive scale

• Build a powerful personal brand that boosts your career

• Master sustainable monetization of your work

• Network with the industry's most insightful leaders

Then this event is for you.

Secure your ticket here for just $50 this week—prices increase next week! (Premium members enjoy discounts on Fintech Is Femme events all year round.)

Now, let’s dive into some fintech insights.

UPGRADE TO BECOME A FINTECH FEMINIST

Every week, I deliver the latest fintech news without the fluff, profiles of trailblazing women in the industry, and insightful analysis to keep you ahead of the curve.

For just $50, becoming a premium member means you’re not just supporting female-led journalism—you’re fueling a movement. Your support transforms Fintech Is Femme from a newsletter into a thriving media empire and community where women connect, learn, and uplift one another.

We are also working on special perks for premium members, including exclusive access to invite-only events, input on content direction, public speaking, and personal branding coaching!

Join us in making a powerful impact. Thank you for championing women in fintech! 

INNOVATION

17 Fintech Apps Created By Women, For Women (Part 1)

In my latest article for Forbes, I wrote about how catering fintech products to women is a savvy business strategy that can propel your company ahead of the competition.

Research by the International Finance Corporation (IFC) has dug into this topic, revealing that understanding gender differences can give fintech companies an edge in tapping into the massive $31 trillion female market while also boosting financial inclusion for women.

Having leaders who recognize the importance of serving women, both socially and commercially, is crucial for fintech firms that aim to target women intentionally, according to the IFC's research.

When top executives truly believe in financially including women, it sets the tone for the entire company. In fact, leaders who believe in the role of women customers in expanding the firm's customer base and market share drive 58% of fintech firms to focus on women.

The study also explores the trade-off between the higher costs of acquiring female clients and the value they bring. 

It turns out that even though it might cost a bit more to attract female customers compared to male ones, around 63% of fintech companies that tailor their products and services for women end up with customers who stick around longer and bring in more value over their lifetime.

The commercial case is clear. According to an analysis by Oliver Wyman, failing to identify, understand, and connect with the female market results in a $700 billion revenue loss. 

With such engagement and revenue opportunities, you would think more fintech companies would target women specifically. However, less than a third of these firms are actually tailoring their products and services for women. They're collecting data on gender but not doing much with it to reach out to more women or make their products more appealing to them. 

Women entrepreneurs in fintech are stepping up to fill this gap, creating innovative products that address the inadequacies of financial services by focusing on women's needs.

In part 1 of this article, we will explore 8 fintech apps created by women, for women. I will release part 2 next week.

#1 Ellevest

Ellevest was founded in 2014 by Sallie Krawcheck, a former Wall Street exec who decided to create the first fintech company by women, for women. After gathering insights on what women want from investing and getting support from big names like Venus Williams and Melinda Gates, Ellevest introduced its robo-advisor focused on leveling the investing playing field for women.

This tool considers things like salary gaps and career breaks, offering personalized investment strategies that align with women's lives and values. They even have a portfolio option that lets you avoid investing in companies that harm the environment.

For a monthly subscription, Ellevest offers automated investing, retirement planning, workshops, and a special service for high-net-worth clients. With a leadership team composed of 84% women and 50% people of color, Ellevest significantly deviates from industry norms.

The firm manages over $2 billion in assets and celebrated its success by ringing the opening bell at the New York Stock Exchange in March 2024. Over 3 million women are part of its network.

#2 CreditRich

Angel Rich founded CreditRich, a fintech app that uses gamified experiences to help women and people of color improve their financial literacy and credit scores.

Launched in partnership with Experian in 2021, Rich became the first Black American woman to secure an institutional collaboration with one of the three major credit bureaus. CreditRich is designed to provide an easy, low-cost way for users to round up spare change to pay their bills intelligently and enhance their credit score as fast as possible in real time.

In 2022, Rich introduced the CreditRich Visa debit card, making it the first Black woman-owned neobank, targeting women and millennials with high student debt.

The app offers features like credit report checks, spending tips, and automatic savings to bridge financial gaps exacerbated by income inequality. Rich is also the founder of Black Tech Matters, a social impact organization focused on creating diversity in STEM.

#3 Tala

Tala, founded by Shivani Siroya and launched in 2014, is all about giving the global majority a financial boost through microloans via a mobile app. By tapping into alternative data from smartphone usage, Tala can assess creditworthiness and quickly provide funds, empowering women entrepreneurs in areas with limited financial services.

Siroya developed an Android app that uses data from users' mobile devices to instantly evaluate them and deliver customized financial services within minutes. Tala offers loans ranging from $10 to $500 to customers with little or no formal borrowing history in countries like the Philippines, Mexico, Kenya, and India.

They even offer a digital wallet in the Philippines, which lets over a million customers pay bills directly through the app, saving them from cash-out fees.

By the end of 2023, Tala had provided over $4.5 billion in credit access to 9 million customers.

#4 Alinea Invest

Anam Lakhani and Eve Halimi co-founded Alinea Invest in 2020, conceiving the idea during a school project to target Gen Z women with AI-powered wealth management.

Alinea has grown into a profitable startup using content and storytelling to engage its 200,000 followers across social media. The app boasts over 500,000 new investors, 92.7% of whom are women and 70% Gen Z users.

Alinea is introducing a subscription model for $120 a year and is diving into the AI market with a new financial adviser to boost their stock recommendation system. This new feature aims to give personalized investment advice, making it even easier for young investors to get started.

#5 Cadence Cash

Co-founded by Chief Operating Officer Andrea Martin Inokon, Cadence Cash aims to close the $100 billion credit gap for women and diverse entrepreneurs.

Its virtual CFO, Angel, provides personalized insights into cash flows, invoices, and funding readiness, making it easier for small businesses to qualify for financing. The startup also offers microloans ranging from $1,000 to $150,000 and AI-driven financial literacy programs.

With over 1,300 users, 60% women, and a lending pipeline surpassing $11 million, Cadence Cash is committed to social responsibility. It is working towards B Corp certification and offering $5,000 Thrive Grants to impactful businesses.

#6 Frich

Frich is a social finance app for Gen Z women launched in 2021 by former model-turned-entrepreneur Katrin Kaurov and Aleksandra Medina to offer financial transparency and community learning. Frich allows users to see how others earn, spend, save, and invest.

Users of Frich — which stands for “Effing Rich” — can ask questions anonymously on the app to get a better understanding of how others their age are doing financially without feeling competitive. They can also anonymously share financial data to see how they compare with peers.

Frich generates revenue by connecting financial institutions, like credit unions, with young users and boasts over 65% female users.

#7 CHIP

In 2020, Dana Wilson founded CHIP (Changing How Individuals Prosper), a financial services marketplace that connects individuals and small businesses with financial professionals of color.

Since 2007, minority women-owned businesses have grown over 163%. CHIP acknowledges the importance of granting access to trustworthy financial advice and collaborates with organizations such as CommonFuture to support initiatives such as accelerator programs for women of color and small business founders.

Through this partnership, CHIP offers participants financial coaching sessions with accredited professionals from their platform, providing a safe space for meaningful financial conversations. These sessions help women craft their financial stories and make informed decisions as they grow their businesses.

CHIP generates revenue through a monthly subscription fee charged to financial professionals who can join as individuals or as part of a team.

#8 Aura

Employees spend nearly 14 hours a week—eight during working hours—dealing with their financial stress, according to the 2024 SoFi The Future of Workplace Financial Well-Being report. This lost productivity costs employers billions of dollars every year.

Kelsey Willock Jones and Courtney Cardin have created Aura, a mindful money management platform that aims to help users with financial anxiety through behavioral coaching and wealth management. Aura's goal is to assist users in understanding and managing their relationship with money, similar to therapy for anxiety.

The platform offers memberships to corporations for their employees and has partnerships with 16 corporate partners. About 70% of the platform’s users are women.

Join us next week for part 2, where I’ll unveil 9 more groundbreaking fintech startups designed by women for women.

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_{WTF ELSE?}

• How a fintech empowers low-to moderate income earners

• Digital-first advisor platform Savvy Wealth raises $26.5M in Series A funding

• Aviva raises $5.5M to provide financial servies to 'underserved'

• Open Banking: Congressional bipartisan letter requests revisions on personal data use

• World's billionaires see $134 billion wiped from their fortunes overnight in stock bloodbath

_{I WANT IT, I GOT IT}

• 📚 Today’s Read: History of the Black Dollar by fintech founder Angel Rich.

• 👀 Today’s Watch: I’ll be honest: I don’t have much time to watch new shows these days, so when I have a moment, I rewatch Sex and The City. What else should I be watching on Netflix? Send me your recs!

• 🍣 Today’s Buy: I have been TikTok influenced to buy a mini trampoline for my backyard for rebounding workouts. According to NASA, 10 minutes of jumping on a trampoline is equivalent to 30 minutes of cardio, which is perfect for us entrepreneurs who are tight on time! Trust me, it’s a lot harder than it looks.

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_FINTUNES

🎵 Charli xcx - Guess featuring Billie Eilish

Are you absolutely captivated by the endless Brat summer vibes? Same here. Plus, what's more exciting than a one-woman powerhouse? Two collaborating to deliver the ultimate party anthem.

_{LET’S CONNECT}

📰 Share this newsletter with a friend and start growing your network.

🔗 Connect with me on LinkedIn for daily insights on female leadership.

🤝 Grow your business through content & community by partnering with me.

📣 Promote yourself to 50,000 subscribers by sponsoring this newsletter.

🎤 Host an epic event by booking me as a speaker, moderator, or emcee.

📚 Increase your expertise by pre-ordering your copy of my book, Fintech Feminists: Increasing Inclusion, Redefining Innovation, and Changing the Future for Women Around the World.

That’s all for now! See you Thursday!

Love,

Nicole 💜