Many fintechs launch to tackle big missions – like the democratization of the stock market, increasing financial inclusion, or improving financial health. But these fast-growing startups are also for-profit companies with investors and other stakeholders to satisfy. In this episode, Jennifer talks to Jimmy Chen, founder and CEO of Propel, a software company that aims to fight poverty with technology. Jimmy shares the challenges his fintech faces in navigating the balancing act of growing a business, serving and earning the trust of its customers, and staying true to its financial health mission.
Jimmy Chen is the Founder and CEO of Propel, creator of Fresh EBT. Fresh EBT is an award-winning mobile app used by over 4 million Americans to manage their SNAP benefits (food stamps), save money, and find jobs. Founded with the idea of using Silicon Valley’s toolkit to improve the daily experience of low-income Americans, Propel helps Americans who live on or near the safety net make it through the month, every month. Propel’s investors include Andreessen Horowitz, Kleiner Perkins, Kevin Durant, and Serena Williams. Jimmy previously worked at LinkedIn and Facebook and studied Symbolic Systems at Stanford University.