Angel Rich, a black woman from Washington, D.C. recently developed an innovative app called Credit Stacker. The goal of the app is to teach students about personal finance, entrepreneurship, and credit management in an engaging way.
So far, over 200,000 people have downloaded the app. That’s within just two weeks of its launch! Forbes has even named Rich “The Next Steve Jobs.”
The office of Michelle Obama named the app the “best financial literacy product in the country”; the Department of Education named it the “best learning game in the country”; and JP Morgan Chase named it the “best solution in the world for reducing poverty.”
Rich graduated from Hampton University and also studied at the University of International Business and Economics in Beijing, China. While working briefly as a global market research analyst for the real estate company Prudential, she conduced more than 70 studies on financial behavior modification.
Altogether, Rich has been awarded over $50,000 in business grants. Rich currently has contracts with the Department of Health and Human Services as well as the D.C. Department of Insurance, Securities, and Banking. In time, it’s likely that other major financial companies with get on board as well.
Rich says that a major hurdle is the fact that women are still discriminated against in the technology and business sectors. Additionally, their companies are not even close to being equally funded. Only 20% of venture capital goes to women-owned businesses. For black women, that figure is even lower.
“My competitor raised $75 million,” Angel told Forbes. “I won best financial product and best learning game. My company raised only $200,000.”
The Credit Stacker app is available in 40 countries and four different languages.