Village Capital, with support from MetLife Foundation and PayPal, today announced that two startups, Manifest and Home Lending Pal, were selected to receive grant funding as a part of Finance Forward US 2020.
Finance Forward US 2020 is an investment-readiness program that is part of Finance Forward, a multi-year global coalition to support entrepreneurs on four continents who are building tech-enabled solutions to place-based challenges around financial health.
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“Over the past decade we’ve seen advances in financial inclusion in the U.S.,” said Marcia Chong Rosado, Future of Finance Practice Lead at Village Capital. “But, simply being included is not enough, especially during a pandemic. We see clearly that the products and services in our communities need to enable people to actually build their financial health — to manage their income, get a loan when they need it, and plan for their financial future. I’m incredibly excited to work with startups like Manifest, Homelending Pal, Dovly, Perch, and Stoovo who are making this a reality for communities in the U.S.”
“MetLife Foundation is proud to support Finance Forward’s entrepreneurs,” said Meredith Ryan-Reid, Head of Financial Wellness & Engagement, MetLife. “On top of being innovative in their use of digital technology, these entrepreneurs are deeply committed to serving low-and moderate-income people and helping those most affected by the pandemic build financial health in these difficult times.”
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“Too many people in the U.S. are historically excluded, overlooked and underserved by the financial system,” said Julie Vennewitz-Pierce, Director of PayPal Gives at PayPal. “For the past seven years, PayPal has worked with Village Capital to support entrepreneurs with innovative solutions to improve the financial health of individuals and small businesses around the world. We congratulate the peer-selected companies of Finance Forward US 2020 who are making an impact in the small business community and people across the U.S.”
Manifest and Home Lending Pal were selected for investment by a group of peer entrepreneurs on the final day of Finance Forward US 2020, a 5-week-long virtual venture development program managed by Village Capital in collaboration with MetLife Foundation and PayPal. The 11 entrepreneurs in the program evaluated each other through an investor lens, using eight specific investment criteria that leverage Village Capital’s Abaca Pathway. Manifest and Home Lending Pal were ranked “most investment ready” and will receive $45K each in grant funding from MetLife Foundation. The two companies are focused on the following:
- Manifest (Chicago, Illinois) makes 401(k) transfers seamless – maximizing retirement outcomes and eliminating administrative hurdles.
- Home Lending Pal (Orlando, Florida) is utilizing blockchain as part of a protocol for assessing mortgage purchase readiness risk through federated attestation-based identity verification.
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