OfColor is a New York-based, Black-owned financial wellness platform focused on the financial empowerment of employees of color. The startup announced a new capital investment from Financial Finesse Ventures, a firm dedicated to growing fintech companies. Following the investment, the two entities have entered a strategic go-to-market partnership to share industry expertise and insights with one another.
Financial Finesse Ventures is funded by Financial Finesse, a platform that aims to supply unbiased workplace financial wellness coaching programs. Serving large enterprises, OfColor equips employees with fintech tools, culturally relevant content and financial coaching and therapy with BIPOC professionals. While its solution is available to all employees, its focus is on those in underrepresented groups.
OfColor serves numerous enterprise clients, including members of the Fortune 100. With the new partnership, the company will expand its reach and impact to the more than 12,000 employers in Financial Finesse’s client network.
Alongside its investment, Financial Finesse will consult with OfColor to leverage its expertise in the financial wellness market. The firm aims to support continued innovation, operational efficiencies and advancements in technology, data and analytics.
“At OfColor, we see the workplace as one of the frontlines in the battle to close the country’s persistent racial wealth gap, and our role is to create a positive ripple effect that benefits both employees and employers,” Yemi Rose, OfColor’s founder and CEO, said in a statement. ounder and CEO of OfColor. “As many of our users have been taken advantage of by the financial services industry, a strong ethical foundation was crucial in our choice of partner. We’re thrilled to join the Financial Finesse Ventures portfolio and to leverage their expertise to advance our shared goals.”
