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About Propel
Industries
Consumer Software
Social Impact
Company Size
51-200
Company Stage
Grant
Total Funding
$85.6M
Headquarters
New York City, New York
Founded
2014
Overview
Propel focuses on improving access to social welfare for low-income Americans through its mobile app, Providers. This app allows users to easily check their EBT balance without needing to call a customer service number, making it more convenient for them to manage their benefits. Additionally, Providers offers personalized coupons and resources to help users save money, as well as job postings that cater to various schedules, from temporary gigs to full-time positions. Propel distinguishes itself from competitors by specifically targeting the needs of low-income individuals who are often neglected by traditional tech solutions. The company's goal is to create a more user-friendly safety net and to raise awareness about issues like Medicaid churn, ensuring that users can navigate these challenges effectively.
Simplify's Take
What believers are saying
- Partnership with Papa Murphy's enhances user engagement through tailored offers.
- Real-time payment tools integration could improve users' financial health.
- Free tax filing services increase user retention and attract new users.
What critics are saying
- Competition from new fintech startups may erode Propel's market share.
- Changes in EBT and SNAP policies could affect Providers app functionality.
- Reliance on partnerships poses risks if key partners withdraw or change terms.
What makes Propel unique
- Propel's Providers app offers instant EBT balance-checking, unlike traditional methods.
- Providers app integrates job postings, aiding users in finding suitable employment opportunities.
- Propel addresses Medicaid churn, helping users navigate post-pandemic healthcare challenges.
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Funding
Total Funding
$85.6M
Above
Industry Average
Funded Over
5 Rounds
Andreessen Horowitz
Kleiner PerkinsBenefits
Generous vacation policy
Unlimited sick days
Medical, dental, & vision coverage
401k with employer match
16 weeks parental leave
New tech tools
Remote first
Growth & Insights and Company News
6 month growth
↓ -3%1 year growth
↓ -2%2 year growth
↑ 0%VANCOUVER, Wash., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Papa Murphy's Take 'n' Bake Pizza is pleased to announce a pilot partnership with Providers by Propel, the #1 app for EBT users to discover savings and effectively manage their benefits.
Banking-as-a-service firm Pathward and payments company Dash Solutions are giving their partnership another five years. And with that extended partnership, the companies announced in a news release Wednesday (Aug. 2), comes a new tool: SpendIT SendIT, which lets consumer payees use or move their funds to other accounts they own. “Together, we are tapping into an unmet need in embedded finance that few banks and payments providers have been able to solve for, and the solution aims to deliver swift disbursement and access to funds,” Pathward President Anthony Sharett said
Propel, an African startup headquartered in Berlin, has successfully raised €2.5 million in seed funding.
When simplified tax filing became an option in 2020, Propel, Inc partnered with Code for America to help connect Providers users to resources like getCTC in order to receive federal tax credits and stimulus payments.
April Tax Solutions Inc., calls itself a tech-powered tax platform that simplifies the filing process and integrates tax preparation into broader financial wellness, launched operations today, in partnership with leading financial institutions such as Propel.
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About Propel
Industries
Consumer Software
Social Impact
Company Size
51-200
Company Stage
Grant
Total Funding
$85.6M
Headquarters
New York City, New York
Founded
2014
Propel is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today