Latina-owned fintech platform Hello Alice has announced it has distributed more than $50 million in grants to small businesses across the US since 2020.
Founded by Carolyn Rodz and Elizabeth Gore, the digital platform has become a cornerstone of support for entrepreneurs nationwide, providing funding, mentorship, and tools to help their businesses grow.
Empowering Entrepreneurs Nationwide
Hello Alice was born out of co-founder and CEO Carolyn Rodz’s struggles as an entrepreneur. A former JPMorgan investment banker from Bolivia, Rodz told American Banker she faced significant hurdles when raising capital for her ventures.
Those challenges inspired her to create a platform that could eliminate barriers for others.
Since its founding in 2017, Hello Alice has cultivated a community of more than 1.5 million small business owners, supporting entreprenuers in industries ranging from retail to sustainable energy.
The company also reports that half of its supported businesses were founded in the last five years, highlighting its role in nurturing early-stage ventures.
Persevering Through Legal Challenges
In October 2023, Hello Alice found itself at the center of a legal battle when America First Legal, Mitchell Law PLLC, and Ashbrook Byrne Kresge LLC filed a lawsuit alleging racial discrimination.
This was due to the company’s initiative, which provided $25,000 in grants to 10 Black-owned businesses in partnership with Progressive Insurance.
The plaintiffs alleged racial discrimination, but Hello Alice stood firm in its commitment to inclusion and equity, and a judge dismissed the suit in May 2024.
Backed by Major Players
“Our mission is grounded in the belief that all Americans with an entrepreneurial vision deserve access to the funding, resources, and networks they need to succeed,” Hello Alice’s website reads.
Hello Alice’s vision has attracted significant support from investors and high-profile figures. In April 2024, the company closed a Series C funding round, raising its valuation to $130 million.
Backers included QED Investors, Mastercard, celebrity chef Guy Fieri, and actor Tamera Mowry.
Image credit: Cayce Clifford
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