Episode thirteen of season two of SOCAP’s podcast series, Money + Meaning: Unlikely Allies Building New Markets for Impact is now available!
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Village Capital & My Money My Future On Innovative Fintech Solutions that are Breaking Down Barriers to Financial Inclusion
How can a person who has grown up in poverty gain access to the knowledge and tools that will help them manage their personal finances and take steps to build wealth and escape poverty? If you don’t have any assets, it is hard to get financial advice that can help you build wealth. Ramona Ortega’s solution to this challenge is My Money My Future, a platform that provides personal financial guidance tailored to the needs of millennials of color who have been overlooked or underserved by traditional financial institutions.
Ortega is now serving as an advisor to Village Capital’s Finance Forward, a US-focused financial health accelerator for entrepreneurs who are using tech to help people manage their finances and build wealth. This is the sixth year that Village Capital, an organization that invests in and accelerates social ventures that are solving global problems, has launched the Finance Forward accelerator to help scale innovative fintech and financial inclusion solutions for marginalized, overlooked, and underbanked individuals and small business owners. In 2019, VilCap’s Financial Services work is focused on identifying the startups that are helping to solve financial health challenges for people of color and small business owners.
In the latest episode of Money + Meaning, host Alex Kravitz talks to Ortega and Marcia Chong Rosado of Village Capital about Finance Forward and the ways that innovative financial services can help marginalized and underserved communities build wealth over time.
Featured Voices
Marcia Chong Rosado
Manager, Financial Innovation Practice, Village Capital
Ramona Ortega
CEO and Founder, My Money My Future
Host: Alex Kravitz
About Money + Meaning
Money + Meaning is the official podcast of SOCAP. This series aims to expand the conversation around impact investing and strategies to finance and support social change while stimulating innovative and valuable new partnerships across sectors.
Resources
- Entrepreneurs who are using tech to help people manage their finances and build wealth are encouraged to apply to participate in Finance Forward. Applications are due by July 8, 2019.
- Read Village Capital’s 2019 report Capital Evolving for a deep dive into three inclusive, alternative investment strategies (each vetted with 200+ investors)
- VilCap’s report, Flipping the Power Dynamics, takes a closer examination of their own peer selection process that gives final decision-making power to groups of entrepreneurs. They have found this to be a more inclusive way to invest as well as an effective way to pick successful investees.
- Download My Money My Future’s latest report Financial Wellness & Why It Matters
