Last year, there were a total of 12.3 million women-owned businesses in the U.S., with an average of 1,821 launching every single day. This means that now, women own 4 out of every 10 businesses in the country. So why is it still difficult for female CEOs to secure funding? To find out, we recently caught up with Dr. Roshawnna Novellus and Tiara Zolnierz, co-founders of EnrichHER, a FinTech platform designed to help women secure funding to grow their ventures.
As Roshawnna explains, EnrichHER connects profitable, women-led businesses to lenders who want to fund and invest up to $250,000. What’s great about the EnrichHER platform is that they can help women across the country, in any industry find the funding they need to grow their business. The only qualifications for businesses that want to apply are:
- Length in Business 12+ Months
- Net Revenue $100k+
- Credit Score 640+
The businesses best suited for EnrichHER already have a proof of concept, market research, and clients and are looking to take their business to the next level. Once a business has been accepted into the program, the EnrichHER FinTech platform uses artificial intelligence and machine learning techniques to pair investors with entrepreneurs.
After starting the EnrichHER spark events in 2017, Roshawnna thought that adding a technology component to EnrichHER could potentially give entrepreneurs access to capital online. In the marketplace, there are a ton of founders who can’t find the capital needed to scale their business. On the other side of the coin, there are investors who have trouble finding the right prospects to lend to. To address this disconnect, Roshawnna built the platform that brings these two worlds together.
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This has been a JBF Business Media production.