Mo money doesn’t have to lead to mo problems. Thanks to DC native Angel Rich, the developer of an innovative new app called Credit Stacker, we can learn about personal finance, credit management and entrepreneurship in a fun and engaging way.
Reportedly 200,000 people downloaded the app to their smart phones and tablets within just two weeks of it’s launch – prompting Forbes to call Rich “The Next Steve Jobs.”
Geared towards students, the app is so impressive it has been named the “best financial literacy product in the country” by the Office of Michelle Obama, the “best learning game in the country” by the Department of Education, and the “best solution in the world for reducing poverty” by JP Morgan Chase. It has won first place in several business competitions, including the Industrial Bank Small Business Regional Competition and the Black Enterprise Elevator Pitch Competition. In total, Rich has won more than $50,000 in business grants.
The Hampton University graduate also studied at the University of International Business and Economics in Beijing, China.
After winning Prudential’s annual National Case competition for her marketing plan to reach millennials, she worked briefly as a global market research analyst for Prudential, where she conducted over 70 financial behavior modification studies.
According to BusinessWomen.org, during her time at Prudential, Rich helped the company generate more than $6 billion in revenue. In 2013, Rich resigned in order to launch her company, The Wealth Factory.
The ultimate goal with her company is to develop financial literacy edtech games that empower and educate both students and adults. And she has been very successful at doing this! In fact, her company has been so impressive that the National Alliance of Public Charter Schools named it the ninth best ed-tech company of 2015.
The Credit Stacker app is available in four languages and in 40 countries, and is quickly approaching 1 million downloads.
Although the app is free for users to download, the revenue model is to generate money on the back-end from advertisers in addition to contracts, including one that she already has with the Department of Health and Human Services. She also has an existing partnership with the D.C. Dept of Insurance, Securities, and Banking.
A major challenge for Rich has been the discrimination women face in the business and technology sectors, and as a result their companies are not equally funded. Reportedly less than 20% of venture capital dollars go to women-owned companies. And, for Black women, the numbers are even lower.
According to a report by #ProjectDiane, Black women represent only 4% of all women-led tech startups in the United States.
Rich told Forbes, “My competitor raised $75 million. I won best financial product and best learning game. My company raised only $200,000.”
The driven entrepreneur, however, is moving full steam ahead. Over time, she hopes her Credit Stacker app will attract major financial companies like NASDAQ, J.P. Morgan & Chase to get on board.
To download the Credit Stacker app, visit:
To follow Angel Rich on Facebook