Propel raised $3.5M through a grant from the Bill & Melinda Gates Foundation to develop AI-powered tools for safety net navigation.
Propel raised $3.5M through a grant from the Bill & Melinda Gates Foundation to develop AI-powered tools for safety net navigation.
08/30/24, 1:06 PM
Location
brooklynMoney raised
$3.5 million
Industry
finance
Round Type
seed
Investors
Bill & Melinda Gates Foundation
Propel celebrates its 10th anniversary with a $3.5 million grant aimed at enhancing safety net navigation. The funding will support the development of advanced features to improve app security and user experience.
Company Info
Location
397 bridge street, 8th floor
brooklyn, new york, united states
Additional Info
Propel's mission is to enable Americans with low income to improve their financial health. The Propel app (formerly Providers, Fresh EBT), is used by over five million Americans across the country each month to check their EBT balance, stay up-to-date on benefits information, and more. Propel is a for-profit company, originally founded through a fellowship at Blue Ridge Labs @Robin Hood Foundation. Propel’s investors include nonprofits, mission-oriented investors, and top-tier venture capitalists: Financial Health Network, Andreessen Horowitz, Nyca Partners, Flourish Ventures, Kleiner Perkins, and more. Propel is based in Brooklyn, N.Y.