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Learning how to properly budget your income is one of the building blocks for attaining financial literacy. With keeping up with bills and unexpected expenses, it can become easy to slip onto a path of neglecting taking action in creating a game plan for monthly spending. Here are budgeting and saving apps led by Black founders that guide you to keep track of your coins.
With the help of financial innovations, the road to financial freedom is becoming more accessible for Black people and communities of color, and Qoins is a fintech startup helping to lead the way in continuing the streak of progress. Since its launch, Qoins’ mission has focused on helping their users pay off their debt and put money into their savings. Qoins’ strides in the financial wellness space have seen continued success and the app recently reached its latest milestone of paying over $20 million in consumer debt, according to a press release provided to AfroTech. “People of color, we tend to get the short end of the stick when it comes to interest rates,” co-founder Nate Washington tells AfroTech. “I can go into a whole spiel about how the credit score system is against us. For us, being able to see that impact and continue to get those testimonials where people tell us, ‘Hey, you really helped me pay off my student loans or my credit card and now I can actually do something...
Fintech is quickly becoming the way of the digital future, and Atlanta-based startup Qoins is using its company’s model to repair finances for consumers looking to save money and pay off debt. Qoins — a financial wellness app that helps people pay down their credit card debt — was founded by tech entrepreneurs Christian Zimmerman and Nate Washington with a sole purpose of helping people get out of credit card debt faster. Since the app’s launch, it has helped pay off and save more than $15 million of debt for users. This week, the fintech startup announced that it raised a $1.5 million round of investment to continue expanding its platform and product offerings. This latest round of funding was led by venture capital firm Front Row Fund, and also supported by other funds such as Rise of the Rest (Led by Steve Case) , Carolina FinTech Ventures, Rebel One and Service Provider Capital, according to CEO and co-founder Zimmerman. “Almost every one of today’s popular fintech companies are...