Latinos are one of the fastest-growing demographic groups in the United States, representing approximately 20% of the US population. However, 50% of Latinos are underbanked. SUMA Wealth is the fintech platform designed specifically for the Latino community to engage, educate, and empower young millennial/ Gen Z Latinos to manage their finances and take control of their financial futures. LA TechWatch caught up with CEO and Cofounder Beatríz Acevedo to learn more about the importance of financial inclusion for Latinos, the company’s goal to help create generational wealth, and future plans.
The next step in the financial evolution has welcomed the applications of immersive Augmented and virtual realities. AR and VR can transform traditional banking and financial services into staggering, visual experiences by developing a personalized, face-to-face virtual environment.
My market cap target for bitcoin is $2 Trillion, or $100,000 per bitcoin ever to be mined. This target is predicated on bitcoin growing its market share of store of value from 2% today to 17% by 2024 (assuming gold holds its current market cap of $12.5 trillion).
The average Fortune 500 company has a portfolio of over $212M in Tax Credits and Incentives. As large as this sounds, nearly 50% of available credits and incentives (C&I) go unclaimed each year. Companies may be dissuaded by the process of applying, reporting, and maintaining these credits. Incentify is the enterprise SaaS platform that lets companies manage all aspects of tax credits and incentives.CEO Laurence Sotsky shares more on how Incentify is changing the narrative around C&I by providing analytics, reporting, and compliance in a centralized platform.
I know DeFi is our Netscape moment because it’s scaling, rapidly. Just like Netscape’s browser did. The market is screaming that DeFi has found product-market fit. Total value locked in DeFi is up more than 4X in two months.a
Investors love SaaS companies because of the recurring revenue. But SaaS companies often have to give up growth when faced with monthly and quarterly subscriptions that cause less signup friction versus annual upfront fees. Pipe is the non-dilutive financing solution for these to normalize their cash flows. Pipe is a marketplace that connects SaaS companies to investors that are looking to invest in these types of factoring arrangements. Investors receive reliable cash flows and companies receive the cash they need quickly to fuel their growth. Win/Win. We caught up with CEO and Cofounder Harry Hurst to learn more about Pipe, the Saas landscape, and the company’s recent Seed extension round.
The future work is changing and the freelance economy is thriving. Though for freelancers, getting paid is still a constant problem. Willa has built a payment platform specifically for freelancers that is more popular than Paypal, Quickbooks, or other invoicing platforms. CEO and Cofounder Kristofer Sommestad shares some on the state of the fintech market, how the needs of freelancers have not been addressed, and the company’s recent funding round led by EQT Ventures.
It has been said that trust is the real flaw of the banking system. Inevitably counterparties must outsource their trust in each other to the bank as an intermediary, and with recent headlines, we can see that consumer confidence in banks is weakening.
While working at the largest 529 provider in the United States, Ksenia Yudina saw firsthand the inefficiencies with the process of setting up college savings plans. She launched UNest to make it more accessible for parents to start saving for college without complex paperwork and exorbitant cost. With UNest, parents can set up 529 plans in less than 5 minutes and it only costs $3M per month. Yudina shares more about the UNest’s mission, the company’s impressive growth, and recent funding round from investors that include Anthos Capital, Baron Davis, Northwestern Mutual Ventures, Artemis Fund, Draper Dragon, and Unlock Ventures.
Blockchain makes banking and financial services more accessible. Anyone with a mobile phone can create a secure account. With recent data from the World Bank revealing 1.7 billion adults globally have no access to a bank account – but two-thirds of them own a mobile phone, blockchain can fill this void.
Financing education is a problem with coasts soaring and this problem is compounded upon graduation when many do not have any significant credit history, with the only reference being a ballooning student loan. Hatch Credit allows users to build a credit score through non-traditional data points such as subscriptions. Hatch Credit’s Director of Public Relations, Shamara Carney, reveals more about Hatch and how this company is making the financial system more inclusive.