Hello Alice Achieves Major Milestone, Crossing $50 Million in Total Grants Given to Small Business Owners

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Nov 21, 2024, 09:00 ET

The fintech experienced significant growth this year, expanding grants, financial programs, and software for over 1.5 million small business owners

HOUSTON, Nov. 21, 2024 /PRNewswire/ -- Hello Alice, the fintech platform connecting 1.5 million small businesses to capital, connections, and education, has achieved a significant milestone in its journey to help small business owners, having crossed $50 million in its grant programs since 2020. Thousands of small business owners from varying backgrounds and demographics have benefitted from Hello Alice's grants, including US Veterans, which not only provided vital capital, but also mentoring, networking, and skill-building program opportunities. This achievement marks the end of a year, where Hello Alice also successfully closed its Series C funding round this year, bringing their total company valuation to $130 million.

The variety of grant programs have been distributed to diverse industries from traditional retail to emerging sectors like technology and sustainable energy. Hello Alice has supported businesses across multiple decades, from generational establishments to emerging startups, showcasing the fintech's commitment to both business sustainability and new entrepreneurship. Nearly 50% of these grant-supported businesses were founded in the last 5 years (2018-2023), indicating Hello Alice's vital role in fostering new business development.

"We began as a small business helping other small businesses. Now serving over 1.5 million entrepreneurs, we are thrilled to have contributed over $50M in grants to our community. We are incredibly proud of the entire Hello Alice team and our valued enterprise partners for reaching this monumental achievement and showing the power of investing in small business," said Elizabeth Gore & Carolyn Rodz, Co-founders of Hello Alice. "Main Street remains the economic engine of our nation, and it still requires better support and financing to thrive successfully. Together, we continue to launch more grant programs and build more tools that inspire growth for small businesses across the country."

Hello Alice has also built upon its Business Health Score tool, which allows small businesses to evaluate their business and financial health and receive personalized recommendations on financial products, tools, or resources to utilize and improve their scores. This year, Hello Alice found through the Score that owners who strictly budget and review their financial statements at least three times per year have better credit scores and greater chances of accessing capital. 39% more owners who take those actions have high credit scores (750+) compared to those that do one or neither of those actions.

Additionally, Hello Alice grew its resources and tools for its small business community throughout 2024, most recently with the expansion of its small business accelerators and boost camp programs, which offered a combination of skill-building programs and grants to hundreds of small businesses. The fintech platform has expanded AI-driven financial health services and its Small Business Funding Center, which connects owners with capital and Hello Alice's Equitable Access to Capital program, a commitment to ensure that all small businesses have access to the capital they need to cultivate sustainable enterprises that drive the national economy forward.

"Mastercard's work with Hello Alice directly addresses the biggest challenge we hear from small businesses; they need access to capital to build and grow," said Ginger Siegel, Head of Small Business in the US at Mastercard, a partner of and investor in Hello Alice. "Our commitment to match the dedication, tenacity and stamina small business owners have every day, by developing tools and creating opportunities that ensure and protect their success, is underscored by our work with Hello Alice."

A recipient of one of Hello Alice's grants and co-founder of Fetch Gourmet Dog Treats, John Griveas expressed gratitude for Hello Alice's commitment to small businesses, sharing, "The grant we received from Hello Alice arrived just as we were facing a potentially devastating challenge. Our lease was terminated unexpectedly and we needed to relocate fast to keep our business going. The grant made this unplanned move possible and allowed us to stay focused on serving our customers and community. Hello Alice's support goes beyond funding; it's been a lifeline that truly empowers small businesses to overcome hurdles and keep growing. As a U.S. Veteran and former Navy Seabee, I'm especially grateful for this support in our time of need."

For more information about Hello Alice's current grant programs and other resources and tools for small businesses, please visit www.helloalice.com. For more information on partnering with Hello Alice on a grant program, please reach out to [email protected].

ABOUT HELLO ALICE

Hello Alice is a financial technology company that provides access to capital, connections, and education to over 1.5 million entrepreneurs. Through data-driven business plans, Hello Alice delivers personalized recommendations that drive profitable solutions between small businesses and give entrepreneurs access to the resources they need to grow. In turn, our business health engine for banks and enterprise business services helps corporations increase engagement and transactions with small businesses. The result is more money in the pockets of small businesses and the brands that serve them. Founded by Carolyn Rodz and Elizabeth Gore, Hello Alice remains steadfast in its mission to ensure that every small business owner has the resources to thrive and live their dream.

For more information, visit www.helloalice.com.

Contact:
[email protected]

SOURCE Hello Alice