ST. PETERSBURG, FLORIDA February 11, 2021– Seedfunders, the early-stage investment firm headquartered in St Petersburg, Florida has announced an investment of $50,000 in weRise through the recently developed Opportunity Fund. weRise’s mission is to close the wealth gap for underrepresented groups by promoting wealth-building investment solutions while improving the same communities through additional investment.
Underrepresented groups have historically faced a wide and persistent wealth gap. Many factors contribute to this reality including a lack of access to financial products and, therefore, generational wealth transfer. Less than 40% of Black families say they even own wealth building products. Still, underrepresented individuals are motivated to achieve financial stability. weRise is focused on making wealth-building products accessible to these individuals.
“weRise is an easy to use technology platform that allows individuals to search for investment opportunities and invest in financial products that fit their investment style. They can then bring the opportunities to their friends and family, thereby adding a social investing component that will be important to converting investors with little to no experience. There are multiple financial products that will work. Single-family rentals are a great place to start and will be one of the many financial products that will be offered on the platform.” said Candice Bradley founder and CEO of weRise.
weRise was founded by Candice Bradley, a Black female entrepreneur following her own investment journey with her husband and her brother. While considering small businesses they could purchase, they spoke with family and friends about collective investment opportunities that could build generational wealth between their families.
The initial go-to-market strategy will focus on social injustice, public relations, and media campaigns given the relevance of the topic in today’s climate. Also, weRise will look to form partnerships with influencers – both individuals and affinity groups – to reach their target audience and build brand awareness.
The weRise offering is superior to the competitors given it allows for investments from non-accredited investors, low minimum investments, and low account fees. The low account fees are supported through an integrated model where weRise owns and improves assets before selling them to investors. As importantly, investors will have the ability to focus on impact investing – not only building wealth for individuals and clubs but also investing back into the same communities. “I’m really excited about the potential for We Rise to help new investors from our community build wealth,” Seedfunders Opportunity Fund board member Bridgette Heller stated.
The Seedfunders Opportunity Fund is a committed capital fund that empowers the Black entrepreneurial community in Florida through pre-seed stage investments in Black-owned startups. By filling the gap in available ‘friends and family’ stage investments and mentoring, Seedfunders will do a small part to elevate the entrepreneurial playing field weighted down by decades of systemic racism.
The Fund continues to accept applications from majority black-owned startups. The Seedfunders Opportunity Fundis open to all accredited investors. The minimum investment is $5,000. For more information, contact Dave Chitester, Dave@Chitester.com.
About the Seedfunders Opportunity Fund:
Seedfunders believes that Black entrepreneurs matter.
Research shows that entrepreneurs of color often have uniquely positioned ideas for technology-driven businesses, but cannot raise the capital to get started in what is typically referred to as the “Friends and Family” round. The mission of the Opportunity Fund is to supply that capital.
The Seedfunders Opportunity Fund is open to all accredited investors. For more information, contact Co-Founder Dave Chitester, Dave@Chitester.com. For information on applying for funding, please contact Jonah Hanowitz, Jonah@stpete.co
Seedfunders was founded by Dave Chitester and Irv Cohen in St Petersburg, Florida, in 2017, with a mission to invest in pre-revenue technology companies throughout the state. In just over two years, the company made 24 investments in a wide range of technology startups. It also launched SeedfundersOrlando in 2019, as well as Seedfunders Miami this year. Collectively, there are now 44 partners in Seedfunders organizations.