The “Found Money” Innovators – How Startups Are Unlocking Cash For Financial Resilience

The Financial Health Network recently released its annual Financial Health Pulse 2023 U.S. Trends Report, the most comprehensive view of the ongoing financial health of all Americans, and the results are alarming. The ranks of America’s financially vulnerable are rising dramatically, particularly among people of color. Critically, there is a fundamental lack of emergency cash cushions for most Americans: ~50% are spending more than they make every year and few have the $2000 in recommended emergency cash savings that drives financial security.

The report is a rallying cry for investors like us at ResilienceVC who are laser-focused on helping drive financial stability for all Americans through technology and startup-led innovation. We believe that startups are the entities best positioned to meaningfully build resilience for LMI Americans while also building large, sustainable world-changing businesses. As Jennifer Tescher, founder and CEO of the Financial Health Network shared, “There is an opportunity for innovative products and services that help develop financial resilience – especially in the face of our latest findings on the declining financial health of people across America, particularly among historically marginalized groups.”