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Hi, fintech fam! 💜

Happy Asian American, Native Hawaiian, and Pacific Islander Heritage Month! 

For those who don’t know, I am Fillipina! My mother immigrated to the US in her 20s from the Philippines, where she met my father, who is of Norwegian descent. Being a mixed Asian is a huge influence on why I strive every day to create a space in fintech that makes women like (and women not like) myself feel welcome.

Here are some resources from Learning for Justice, where you can learn more about AAPI Heritage Month, why we celebrate it, and how you can participate in this month! I encourage you to see what you can learn.

Spring is in full swing in New York City, and it got me reminiscing on the key theme of the Fintech Is Femme Leadership Summit on April 8th: 

“Flowers that bloom in the dark” is a metaphor for women in fintech who experience challenging moments because of the systemic obstacles we face due to gender norms, but because of that experience, we become the most resilient and gorgeous flowers in the garden.

(Also, we’re hosting our next in-person Summit again in June—get your tickets here!)

To celebrate our resilience and day 2 of AAPI Heritage Month, I’m rounding up my top 3 favorite stories from Spring.

Let's dive in!

WHY UPGRADE?

There’s a big difference in how the mainstream media covers fintech and how I do. Every week, I will provide you with the latest fintech news (minus the BS), profiles of inspiring women in fintech, and insightful analysis to help you stay ahead of the competition.

For our premium members, I send out updates 3x a week through our new column, "On Performance.” These columns will provide tactical advice to improve your entrepreneur and business leader performance.

Plus, premium members support female-led journalism and keep this work going. Because of your support, Fintech Is Femme is more than just a newsletter; it's a media empire and community for women to connect, learn, and support one another.

#TRENDING

Flowers That Bloom in The Dark: A Special Spring Edition

3 of my favorite stories from Spring (March/April) represent just how powerful women in fintech truly are.

#1) MEET THE WOMEN TRANSFORMING FAMILY AND FINANCIAL PLANNING.

Meet Sheila Lirio Marcelo and Jean Smart. 

Two powerhouse AAPI women are involved in completely separate companies, but between the two, they’ve got you and your family covered for every stage of life. 

You’ll hear the stories and strategies from BOTH leaders in my book, Fintech Feminists, released in October! Pre-order your copy here 🤑

Let’s start with Sheila Lirio Marcelo. 

Lirio Marcelo is the founder and former CEO of Care.com, the most popular platform for parents to connect with caregivers for their children. 

Marcelo took Care.com public in 2014, and now, with her estimated $23M+ net worth, she’s using it to continue helping women. 

Today, she’s building Ohai.ai, a startup that emerged from stealth mode earlier this year. 

Ohai.ai is a virtual assistance platform that aims to revolutionize household organization (like managing calendars and planning appointments) and unlock economic potential by alleviating the mental load associated with managing family schedules and delegating tasks.

Because if women were compensated for their unpaid labor, they would be owed a collective $10.9 trillion in ONE YEAR. 

Lirio Marcelo keeps women and their families at the center of her mission as she continues to blaze new trails and create opportunities for society to see the hidden economic advantages they receive at the hands of women’s unpaid labor.

Family life is covered - what about your finances and retirement?

Enter Jean Smart.

Jean Smart is an AAPI female founder at the helm of Penelope, a fintech startup focused on making retirement easy and accessible.

Penelope raised $2.1 million in 2022, led by Slauson & Co. Additional investors included Citi, Wells Fargo, U.S. Bank executives, and more. 

Penelope’s mission is personal for Smart. 

She watched her immigrant parents work tirelessly to provide for their family and employees as restaurant and grocery store owners - but they didn’t formally invest in their retirement and were left vulnerable in their later years.

According to internal data from Vanguard Group reported in the Wall Street Journal, a record share of 401(k) account holders took early withdrawals from their accounts last year for financial emergencies.

And with Penelope users saving an average of $200,000 more, it’s safe to say Smart’s mission is standing in the gap of the U.S. retirement crisis.

#2) WANT LONG-TERM SUCCESS? PRIORITIZE WOMEN.

Catering fintech products to women isn't just a nice-to-have—it's a business imperative that will propel your company ahead of the competition.

Fresh research from the International Finance Corporation (IFC) dives into this, showing how analyzing gender differences can give fintech firms a leg up in tapping into the $31 trillion female market and boosting financial inclusion for women overall.

For fintech firms that intentionally target women, having leaders who understand the value of serving them socially and commercially is key.

If the top brass truly believes in financially including women, it will set the tone for the company.

It might cost a bit more to acquire female clients, but about 63% of fintech companies that specifically tailor their products and services for women end up with customers who stick around longer, bringing in more value over their lifetime.

It's been shown before that women tend to be loyal customers, stick around longer, and are less likely to default than men.

So, even though it might take a bit more effort and cash to get them on board initially, in the long run, it's worth it because women bring in more value.

Looking ahead, we know there's a TON of potential for the fintech industry to do more to serve women.

#3) SCARCITY VS. ABUNDANCE: SECRETS FROM ASYA BRADLEY

Asya Bradley is a unicorn in her own right and certainly a resilient flower who bloomed in the dark.

She wears many hats – she's an AAPI multi-exited serial founder, super angel investor, LP, advisor, and board director in tech startups and emerging fund managers. 

With over 20 years of experience and four company exits (including neobank, Kinly, a company dedicated to building generational wealth for Black America), Bradley's journey is a testament to her expertise.

Her roles in the C-suite at tech companies like Synapse and as LP at firms like Cowboy Ventures have shaped her into an experienced investor, operator, and fintech entrepreneur. 

Her unique blend of technical expertise and emotional intelligence drives the success of the startups she's invested in. 

“As an immigrant myself, I had to navigate learning English as a second language upon arriving in the West,” Bradley told me during her interview, which kicked off the April 8th Fintech Is Femme Leadership Summit. 

“I came from a village without basic amenities like running water or electricity, let alone proper birth registration,” she said. “I'm one of those babies—a female child—whose birth was never officially recorded. I lack a birth certificate. Frankly, by the standards of bureaucracy, I shouldn't even be here.”

Wow. Talk about scarcity. But, despite Bradley’s circumstances, she called her home and family a “hub of hospitality,” with all guests leaving with a meal and job opportunities shared freely within the community. 

“Reflecting on [my culture steeped in community], I wonder why, as educated and badass women, we aren't doing more to uplift each other,” Bradley shared. 

“Why do we perpetuate a mindset of scarcity rather than abundance? When we secure positions of influence or success, why do we not extend a hand to pull other women up alongside us? Why do we feel the need to be the sole beneficiaries of our achievements?”

In the rest of her time on stage with me, Bradley shared lessons she learned from VC, how to balance supporting those around her and caring for herself, and what’s catching her eye from an investment standpoint in fintech this year.

I could talk forever about Asya’s interview, which was also an audience favorite, but I’ll encourage you to read the whole thing below! 

_{MARK YOUR CALENDARS}

Join us every Thursday to stay updated on the weekly top fintech events! 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!

_{MONDAY 6/3}

I’ve mentioned it a few times, but if you’re interested in Fintech Is Femme’s Founder’s Summit: save your spot NOW! Space is limited.

You’ll hear stories from fintech founders, but founders aren’t the only ones who will benefit from this summit.

The stories and techniques you’ll learn on June 3rd can be applied to ANY women in finance, tech, or fintech at any stage of your career. Join us!

_{THURSDAY 5/9}

Suffs hasn’t been on Broadway for more than a month, but the musical has already been nominated for six Tony awards.

The Fintech Is Femme team caught the show two days before the summit on April 8th, and we were blown away.

With key producers like Hillary Clinton and education activist Malala Yousafazi, the musical details the story of Alice Paul and the monumental, years-long fight women endured to earn the right to vote.

The Suffs team is partnering with Fintech Is Femme (SO cool!) for a virtual event to share more about building as women and how that translates to the fintech space.

Join us here!

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_JOBS

Chief of Staff, Anthemis Group

I would definitely consider pursuing this job opportunity to collaborate with the renowned NY Fintech Legend, Amy Nauiokas. She is the founder and CEO of Anthemis, and her team is currently seeking a Chief of Staff who can effectively coordinate various aspects within the Anthemis organization, specifically focusing on supporting Amy in her role as CEO. If interested, please respond to this email, and I will connect you with their team. This is a fabulous opportunity!

_FINTUNES

🎵 Tinashe - Nasty

Heavily underrated, Tinashe’s latest single is addictive. Let this dance track take you into a fabulous weekend!

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

Love,

Nicole

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