The StacKz Savings App, Created to Encourage Black Economic Change, Seeks Early Stage Investors
StacKz, LLC, a Black-owned business, schedules release after State of Delaware EDGE Grant program is suspended due to COVID-19 pandemic
"Our mission is to bring financial technology to the Black community. Our goal is to help millions of users save millions of dollars together," says company CMO, Kenya Singleton. "The StacKz App focuses on the financial success of both the individual and the StacKz user community as a whole."
Functions of the StacKz App include:
- automated round-up savings
- a financial literacy curriculum
- budgeting tools and alerts
- scheduled deposits into a users' StacKz account
- optional ATM fees that get saved in a users' StacKz account
- in-app money transfers
- and other future features.
The app encourages daily savings and allows people to be in full control of their money. Over time, users can save the money they need for educational expenses, emergencies, and even retirement without worrying about where the money will come from.
In an interview on CNBC's "Squawk Box", Paul Judge, CoFounder of Techsquare Labs said that it pays to invest in black-owned businesses. "It's not just the right thing to do, it's the profitable thing to do," says Judge. "Companies that have founders or execs that have people of color actually deliver a return that's 30% higher than their counterparts."
When asked why the company is seeking funds, founder Fred Mathis says, "Our business plan will be profitable, our technology is cutting-edge, we have an excellent management and development team, and we are ready to bring the StacKz App to market. However, we need funds in order to do so. We applied for a State of Delaware EDGE Grant, but the program was suspended due to the COVID-19 pandemic. We know we have challenges, but it is important now more than ever for Black-owned companies to have a voice and a presence in America's finance and technology sectors. We are offering a fair equity stake in our company to the right investor. Our purpose is far too important."
Subscriptions to the StacKz App will start at just $2.99/month. Subscription and investor information can be found at StacKzApp.com.
Page Updated Last on: Jun 24, 2020