Propel, a consumer technology company focused on supporting low-income Americans, has secured a $3.5m grant from the Bill & Melinda Gates Foundation.
This funding will be used to develop new AI-powered tools aimed at improving navigation of the safety net, which includes government programs such as SNAP (Supplemental Nutrition Assistance Program).
Founded in August 2014 by Jimmy Chen, Ram Mehta, and Jeff Kaiser through Blue Ridge Labs @ Robin Hood Foundation, Propel has revolutionised the way low-income Americans manage their public benefits.
The company’s app, initially named ‘Providers’ and now rebranded to ‘Propel’, allows users to check their EBT (Electronic Benefit Transfer) balances easily—a process that previously required calling a 1-800 number.
Over the last decade, Propel has helped 15 million people check their EBT balances 5.5 billion times.
The new funding from the Gates Foundation will enable Propel to prototype and scale new technologies that continue to modernise the safety net.
The company’s new AI-powered tools will help streamline access to public benefits, making information more accessible and intuitive for the millions of users who rely on them.
Beyond enhancing its AI capabilities, Propel is also introducing new security features to its app, making it a secure option for managing EBT benefits.
Recent research conducted by Propel indicates a growing concern among EBT cardholders about the theft of SNAP benefits, with 87% actively looking for ways to secure their benefits. In response, Propel has developed a system that automatically scans and flags suspicious transactions, and in select states, users can now lock their cards or block out-of-state transactions.
Reggie Bicha, President & CEO of the American Public Human Services Association, emphasised the importance of protecting people from benefits theft, stating, “Protecting people from benefits theft requires a cross-sector collaborative approach. Propel is a trusted source for millions of EBT cardholders by providing additional tools and information to promote card security.”
Ida Rademacher, Vice President of the Aspen Institute and Co-Executive Director of the Financial Security Program, praised Propel’s commitment to innovation, saying, “Over its 10 years, Propel has been a clear example that business leaders can develop products for low-income Americans that support, not obstruct, people’s financial security.
“I look forward to many more years of Propel innovating on how to serve people’s financial security and its continued leadership in the field.”
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