Stackwell Capital is staying true to its commitment to help Black Millennial and Gen Z populations grow their wealth.
As AfroTech previously told you, the fintech company launched an app that will aid users in learning beneficial financial practices to better position them in the market. Stackwell Capital Founder and CEO Trevor Rozier-Byrd said he knew the app was direly needed to give Black communities more agency when it comes to investing.
“We want to help more folks start their investment journeys and increase long-term commitment toward wealth building,” Rozier-Byrd told AfroTech at the time.
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According to a press release, 16 students who were the winners of the Braven Accelerator Capstone Challenge, funded by Fintech in Action coalition members Zogo Finance and MEMX, will be exposed to Stackwell workshops. By doing so, participants will receive financial resources and tools that will help them build wealth.
Through the partnership, Stackwell and Fintech in Action seek to provide security to students beyond the four walls of the school.
“Fintech in Action is thrilled to partner with Stackwell to build and launch this new initiative,” Korene E. J. Smith, director of Fintech in Action, said in a news release. “Going into the Braven Capstone Challenge, I wanted our sponsorship to offer a challenge question and prize that made an impact beyond the classroom. We truly believe this program has the potential to be scaled to larger cohorts of students and expanded across HBCUs and other colleges and universities — providing access to critical and functional financial education and an understanding of the markets to countless Black students in America.”
What’s more, the partnership will also help to kickstart HBCU students’ investment journey by awarding them a Stackwell account with $250.
“I am so excited that our cohort is being given the opportunity to start an investment journey while we’re still in school,” Morgan Newson, a junior at Spelman, expressed according to the news release. “To be provided with a program that teaches us how to be successful investors on our own, along with a seeded account is a huge deal. As a Black woman, it means a lot to have this kind of support and head start in learning how to build wealth. Being able to start years before graduation gives me leverage as I think about financial stability and my future.”
Looking ahead, the partners have an expansive vision to maintain their efforts on HBCU campuses. Plans include creating a financial tour across the nation in partnership with Rapunzl Investments.
Additionally, a national student-athlete name, image, and likeness (NIL) program is in the works to educate student-athletes on how to be wise with their earnings while providing career avenues in finance and fintech.
“We are deeply committed to our work with HBCU students and student-athletes and are excited to expand access to the markets to students at Spelman College and beyond,” Stackwell’s Rozier-Byrd explained in the news release. “Fintech in Action offers a unique partnership opportunity where we can build new programs that will impact different student populations and help instill core investing values and behaviors from a young age. Together, we have a chance to establish a culture of wealth building and financial wellness that impacts a new generation of Black students.”