By: Bridget Jones
Where did FinRoth come from?
Four years ago I dropped out of law school to start a tech company. I had this ambitious plan to support large numbers of people without the barriers and red tape that bureaucracy placed on high-impact driven initiatives. Chisel is an American business and financial software company that develops and sells software and related services for small to mid-sized businesses, local governments and individuals. We aim to be the leading technical solutions provider for businesses and software products.
This summer, something shook us to our core. The death of George Floyd made us get really serious about seeking to understand why there was such a significant amount of BIPOC-led organizations that weren’t tapping into the huge pool of funding. While there is implicit bias, we sought to discover whether there was more. After speaking to a few hundred founders, incubators, accelerators, business coaches, and industry professionals we saw patterns in basic business acumen that boiled down to three things: poor infrastructure, visibility, and funding.
In no time, we created FinRoth — an online platform that helps founders gain market insights, develop easy-to-read financial models, understand their business processes, identify risks, and get capital. Right now, we’re writing user acceptance test scripts in preparation for beta testing. We’re working with about 100 organizations across the US to make sure we get the best results. But for the initial motivation behind why this platform was created, we signed a contract with The Center for Black Innovation (formerly Black Tech Week) to apply our research practice to BIPOC businesses. We’re placing 50 black and brown led organizations through a three-month pilot. At the end of Q1 2021, we’ll have our first case studies.
For more information on how our pilot is going, feel free to reach out to our CTO Shannon at firstname.lastname@example.org.