PROFIT MATTERS - September
FemTech meets FinTech
Funding Healthy Financial Habits for Women
September 10th, 5:30-7:00
University of Colorado Boulder Campus
Idea Forge/Fleming Building: 2445 Kittridge Loop Rd. Boulder, CO
(Parking in lot 470 is free after 5:00 pm - just south of the Fleming building)
Patty Ferreira is a serial entrepreneur and the Founder and CEO of xBuzz. On this venture she is taking the impact route, with a company that helps women to create healthy spending habits by converting irrational impulse spending into rational savings. This is Patty’s 7th startup, including Foops, which was created to teach kids about money. Patty has held roles in Fortune 500 companies as a Product Manager and Director of Strategy, she has an MBA from MIT in Entrepreneurship and Strategy, and is a patented plastics engineer. Wow!
xBuzz was created to help women to create healthy spending and savings habits. Women today control 80% of spending, yet they save 50-65% of what men save. The app uses reminders, called nudges, to save while out shopping. This idea has apparently appealed to our CWWK membership and early funding came from a member and another member is filling the CTO slot.
The Business Challenge
XBuzz has raised the money to build out it's app but they need to raise more to achieve market traction to get to the next step in their growth strategy. They are being considered for several accelerators, but are finding that their lack of traction is a barrier to acceptance. Their challenge is in persevering with their current contacts while also identifying new angel investors for this next stage. Their funding hypothesis is that since they cross the boundaries of FinTech and FemTech, that the most receptive Angels will either come from those areas or be focused on impact investment.
They need our help confirming this along with any angel introductions we can make.
This Month's Reviewers
Next Month: We'll be back at Thrive Arvada West on October 8th with a new business challenge. SAVE THE DATE!
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