Hi y’all. Cokie here. We hope you’ll join us in donating to Brooklyn Bail Fund.
Whichever company donates the most and sends us #receipts will get a free newsletter sponsorship next week. We’re so enormously fintech that we donated $255 to cover the transaction fees. Yeah, I hate us too.
We are more committed than ever to lowering the barrier to entry into the fintech space for minorities (which Ian and I both are). I asked about black founders the other day on twitter, you may have seen it. You’ll see why in a few weeks if you’re an FTT+ member.
We’re running a user survey for FTT subscribers over the next few weeks—if you fill out our survey, you’ll be automatically entered for a raffle to win a $50 Amazon Gift Card. We’re giving away two (no, you can’t win twice) so fill it out ASAP!
We’re raising the prices for FTT+ on June 15 (we’ve extended it based on demand!). If you sign up over the next month, you’ll get locked in to the $25/month rate for the first year. You also get a 15% discount if you sign up for the annual membership.
FTT+ This Week
We have some DOPE interview’s lined up over the next few weeks for ya.
Julie VerHage interviewed Square’s Jackie Reses, who leads Square Capital. The full interview drops on Tuesday, June 9th, for FTT+ members only.
Ian’s interview with SoFi CEO Anthony Noto, also only for FTT+ members. Drops on June 16th.
Fintech Apps & Charitable Giving, By Cokie Hasiotis
Donations obviously have become more important than ever. I’ve noticed people sending donations via Venmo, Cash App, Facebook, etc. People using traditional banks have been posting things like “if I were a bank, I would make donating easier.” So I took it upon myself to put together a list of companies either focused on donation finance or have it built into their existing offering. You know, the ones that make donating easier.
Here’s a list of 15 in the US. If I missed you or you would like to talk more about your offering, please get in touch with me (email@example.com).
Momentum - Automatic donations to a curated selection of charities that have been pre-vetted. Transparency in where your money is going and what it’s doing to help others.
Current - Offers automatic transfers to 501(c)3’s
Fundly - Integrated platform for social impact
Trust & Will - estate planning for normal people, you can leave a gift to a charitable organization
The Giving Block - Donations via crypto currency
GoodWorld - instant donations
Classy - online fundraisers for modern non-profits
donorbox - embedded checkout for donations
FundraiseUp - Built to stop losing donors at checkout
ALMA - Allows donates to any of America’s 1.6M charities through automatic transfers to 501(c)3’s and keeps records for your taxes
Millie - One time or recurring donations
Bright Funds - Workplace giving and volunteerism platform
Pinkaloo - Works with banks and employers to make donating more impactful
in/Pact - Connects customers of financial institutions and loyalty programs to support charities
Live.Give.Save - Microfinancing for savings and charitable donations
FTT+ Sneak Peak: Regulation & US Fintech
Last week, we were super lucky to get a great group of folks to chat about regulation and the US fintech ecosystem. This content was originally for FTT+ members only, but considering how much everyone loved the interviews, we decided to make it free for everyone. We plan on holding more thematic virtual events on a monthly basis, and we’ve been holding a bunch of dope Q&A’s with industry leaders.
Amias Gerety, an investor at QED and ex-acting Assistant Treasury Secretary under President Obama. Listen to the interview on YouTube here.
Melissa Koide, CEO of FinRegLab, former Deputy Assistant Secretary at the Treasury Department, and Vice Chair at the Milken Fintech Advisory Committee. Listen to the interview on YouTube here.
John Pitts, head of policy at Plaid and former deputy assistant director of the CFPB (Consumer Financial Protection Bureau.) Listen to the interview on YouTube here.
Tweets of the week
Funding of the Week
Varo Money raised $241 million in a Series D funding round, co-led by Gallatin Point Capital and The Rise Fund. Varo has been the only fintech startup that’s received FDIC approval for a bank charter, an arduous and costly process. So far, the company has raised north of $400 million, and has 2 million users accounts, according to TechCrunch. The company reported strong growth in 2020: “Since the beginning of 2020, account growth is up 60%, spend is up roughly 1.5x over the same period and deposits are up by roughly 3.5x”