01 June 2022 |
S2 Ep6: Propel: Upgrading American Government
By Joe Sweeny
Meet the founder building a fintech business to upgrade government.
Propel is building the banking app for the 42M Americans on food stamps. The US government deploys $70 billion a year into food stamps and it doesn’t have a website where users can check their balance. Propel is changing that and building a killer business at the same time.
Jimmy has onboarded nearly 5 million users on less than $20M in venture capital – wildly capital efficient for a neobank. Now he’s building out a recruiting platform to help users find jobs, an advertising platform, and an all-in-one banking app.
Jimmy talks to Joe about how entrepreneurs can work with government and why people in the tech sector have failed to build products for Propel’s customer base – missing massive opportunities in the process.
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