Philly fintech start-up wants to help build wealth in underserved communities

Enterprise Center Capital Corp. is a registered Community Development Financial Institution and invested $250,000 in six different fast-growing businesses totaling $1.5 million in recent months.

Three of the start-ups are based in Philadelphia, including procurement technology tool Stimulus and inclusive cosmetic brand Pound Cake.

The other start-ups include Bon AppéSweet, a date-sweetened chocolate business, TracFlo, which sells technology for the construction industry, and Wellthi, a social mobile banking app.

Ian Lawrence, head of Enterprise Center Capital Corp., said in a news release that investing capital directly is “the most effective way to aid minority business owners and entrepreneurs when building their legacies.”

Wealthmore has 10 employees and has raised more than $1 million from investors so far. The start-up expects to launch a free community membership this year so individuals can glean insight from the social media groups. The goal is to hit 100,000 members by the end of the year.

“All of our communities are led by wealth advisers and [free users] will also have access to our wealth planning tool,” she said.

Editor’s note: This story has been corrected to reflect the company name of Wealthmore with 10 employees, having raised more than $1 million so far.