Propel
Latest round
- Series B
Last raised
- Feb 2022
Total raised
- $73M
Investors
- 16
About Propel
Propel, Inc.Founded in 2014 and headquartered in Brooklyn, US, Propel, Inc. specializes in providing financial solutions for low-income individuals by developing a mobile banking application. The company has undergone strategic pivots to focus on enhancing its technology platform.06 mn.Propel offers a mobile banking application designed to provide users with a comprehensive platform for managing their Electronic Benefits Transfer (EBT) balances, accessing relevant financial resources, and optimizing their benefit usage. The app serves as a centralized tool for low-income individuals who rely on government assistance programs, allowing them to efficiently track their EBT funds and stay informed about various supportive programs available to them. Released in recent years, Propel has established itself as a trusted resource, evidenced by over 900,000 positive reviews from users who praise its functionality and ease of use.Propel's revenue model is based on partnerships with various stakeholders within the financial and government assistance sectors. The company engages in B2B collaborations, working directly with government agencies and retailers to facilitate access to benefits for users of its application. These partnerships may include revenue-sharing arrangements or service fees associated with the transactions processed through the app. Propel also offers potential subscription services for premium features that enhance the user experience, although specific pricing plans are not disclosed.In February 2022, Propel, Inc. The company plans to introduce new products aimed at enhancing user experience and functionality within its application. Propel also aims to expand its presence into additional states by targeting markets that have high demand for government assistance solutions.
Who invested in Propel
16 investors across 4 rounds
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Questions about Propel
Who invested in Propel?
Propel has 16 investors on record across 4 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Propel raised?
Propel has raised 4 venture rounds. Sign up free to see how much each round raised and the total.
When did Propel last raise money?
Propel's most recent round on record is a Series B, in Feb 2022.
What does Propel do?
Propel is a software company.
Where is Propel headquartered?
Propel is headquartered in Brooklyn, US.
Which VCs invest in companies like Propel?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Propel's stage. Their profiles are linked below.
VCs backing software startups at Series B
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