$1M Raised By Black Fintech Founder For Accessible Financial Advice

WealthMore, the fintech startup founded by Mical Jeanlys-White, has secured over $1 million in pre-seed funding according to Forbes.

The company aims to make financial advice more accessible and affordable, particularly for individuals who have been historically underserved by traditional wealth management firms.

Bridging the Wealth Gap with Hybrid Financial Solutions

Wealthmore is a premium wealth advisor-ed, tech-enabled investing and planning service and community, launched in August 2023.

The companys approach to wealth management combines the efficiency of fintech with the personal touch of traditional financial advisors. 

This hybrid model stands out in a market where robo-advisors dominate but often fall short in addressing the nuanced needs of investors with smaller portfolios. 

Jeanlys-White recognized a critical gap: the market was saturated with digital-only solutions that lacked the personal interaction many clients value. 

WealthMore’s hybrid model offers a more personalized experience through human interaction via direct messaging, texting, chat, and communities. 

It provides financial planning advice on home buying, taxes, estate planning, insurance, college planning, retirement planning, and more at a lower cost than traditional wealth advisors.

Overcoming Funding Challenges: A Testimony to Resilience

Despite current funding challenges, Jeanlys-White successfully raised over $1 million in a pre-seed round by leveraging platforms like LinkedIn and building relationships with VCs committed to social impact.

“We’ve raised over a million dollars. “I couldn’t have picked a less optimal time to raise capital,” Jeanlys-White told Forbes.

Investors in the company include Emmeline Ventures, First Row Partners, and Ben Franklin Technology Partners.

Enhances User Experience With New App Features 

According to a blog post, two months after the product launch, Wealthmores latest mobile app features have also reportedly made it easier for users to add funds, start their investment portfolios, and complete wealth plans. 

The platform is also expanding rapidly, with new accounts opening daily and unique invitation codes being sent to early sign-up members.

WealthMore has introduced personalized wealth management by matching members with advisors who oversee their portfolios, aiming to serve a broader audience. 

As WealthMore continues to execute trades and deliver essential documentation, it remains committed to enhancing the user experience and responding to feedback.

Feature Image Credit: All The Wealth