For Carolyn Rodz, a former JPMorgan investment banker turned entrepreneur, the impetus for Hello Alice, a suite of free financial products and programs, was born out of Rodz's earlier struggles of trying to raise capital. "[I] knew firsthand that accessing capital as a woman entrepreneur was hard. Back then, the total amount of venture capital going to women was around 2.2%," she said.
And it hasn't improved since 2017, when Rodz co-founded Hello Alice with Elizabeth Gore. In 2022 and 2023, just 1.9% and 2.1% of venture capital, respectively, went to women-led businesses. "Today, as a woman who has raised millions in capital, I can confidently say that it is possible, but for that 2.1%, it definitely is not easy," Rodz added.
The duo founded Hello Alice to help small and midsize businesses have better access to resources and capital. Its community of more than 1.4 million businesses can access such tools as a proprietary "business health score" that allows owners to assess the financial soundness of their operations and identify areas where they can improve their practices and performance. The company also offers a branded Mastercard, and offers grants with corporate partners for up to $50,000.
Rodz maintained that the core of fintech is the pursuit of financial inclusivity. "By leveraging innovative, breakthrough technology, the industry can overcome barriers to provide equitable access to a wide range of financial services," she said.
Prior to Hello Alice, Rodz launched a virtual accelerator, supporting more than 300 women from across the United States and internationally and helped them raise over $76 million in investments.
