Propel

company

About

Propel provides a mobile app designed to help users manage their benefits and money.

Details

Last Funding Type
Series B
Last Funding Money Raised
$50M
Industries
Finance,Financial Services,FinTech
Founded date
Aug 28, 2014
Number Of Employee
51 - 100
Operating Status
Active
Legal Name
Propel, Inc.
Also Known As
Providers

Propel builds software dedicated to helping low-income Americans improve their financial health. Its core product, Providers, is a free app that allows EBT cardholders to manage their benefits and money, save on essentials, and earn cash. Providers is used by millions of Americans across the country and Propel has been featured in the NYTimes, Wall St Journal, and Forbes.

Propel was founded in 2014 and is based in Brooklyn, New York.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
5
$68.20M
Propel has raised a total of $68.20M in funding over 2 rounds. Their latest funding was raised on Mar 8, 2022 from a Series B round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Mar 8, 2022 Series B $50M 9 Nyca Partners Detail
Dec 14, 2018 Series A $12.80M 8 Nyca Partners Detail
May 5, 2017 Seed $4M 9 Detail
Jun 12, 2015 Convertable Note $250K 1 Financial Health Network Detail
Jun 11, 2015 Seed $1.15M 2 Detail

Investments

Number of Investments
Number of Lead Investments
4
0
Propel has made 4 investments. Their most recent investment was on Mar 29, 2019, when Shopi raised $520K.
Date Company Name
Round Money Raised Industry Lead Investor
Mar 29, 2019 Shopi
Seed $520K Cloud Computing
Oct 17, 2017 Welcome Pickups
Seed €1.65M Information Technology
Nov 1, 2015 Welcome Pickups
Seed $500K Information Technology
Apr 30, 2015 Welcome Pickups
Seed $170K Information Technology

Investors

Number of Lead Investors
Number of Investors
3
19
Propel is funded by 19 investors. Nyca Partners and Financial Health Network are the most recent investors.
Investor Name Lead Investor Funding Round
Nyca Partners Yes Series B
Financial Health Network Yes Convertable Note
Andreessen Horowitz Series B
Flourish Ventures Series B
Jared Leto Series B
Jeremy Lin Series B
JP Morgan Chase Series B
Kleiner Perkins Series B
Mischief Series B
Salesforce Ventures Series B

Employee Profiles

Number of Employee Profiles
10
Propel has 10 current employee profiles, including Executive Jimmy Chen
Executive
Employee
Employee
Executive
Executive