Women of colour neobank gearing up for launch

GoWomen, a challenger neobank priding itself on being the first FinTech company for women of colour, is taking early sign ups ahead of its 2022 launch.

GoWomen said its mission is to provide financial awareness and wellness through an exclusive network.

The banks website said it will cater to women of colour “from all walks of life, from Moms to Fortune 500 CEOs”. GoWomen’s ethos lies in the betterment of financial wellness for women a colour, a largely under-served group in the financial sphere.

A recent tweet from GoWomen suggested that the bank will provide guidance and access to capital for women of colour looking to start, or who are already running, a small business.

The company is busy making plans for its launch. For the entire month of November, GoWomen highlighted an inspirational woman of colour each day on its Twitter feed. Amongst them was lawyer and political commentator Angela Rye, vocalist Alicia Keys, and billionaire entrepreneur Carolyn Rafaelian.

GoWomen is not the only FinTech seeking to support the financial wellness of people of colour. Earlier this year, Plaid announced that it chose OfColour, a financial health platform for employees of colour, in its accelerator programme.

OfColour is a financial wellness SAAS platform that works with enterprises of all sizes seeking to improve the financial health of their employees, specifically employees of colour. Employers save on benefits and get a powerful recruitment and retention tool. Employees get wealth-building guidance and culturally relevant financial content that enables them to secure a financial legacy.

GoWomen is due to launch in April 2022, but the company has opened its waiting list for those who wish to gain early access to its financial tools and guidance.

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