Northwestern Mutual on Tuesday unveiled the second class of black-led startups that will receive funding and mentorship under the 12-week program. The Accelerator is a partnership between the Milwaukee-based life insurance company and the program administrator gener8tor.
The inaugural class NMBFA – which included based in Milwaukee Tip a ScRxipt – completed the program in June.
Cohort participants receive an investment and mentorship of $ 100,000 from the leaders of Northwestern Mutual and gener8tor.
CrossKudi, led by the Managing Director Bobola Odebiyi, offers a secure international money transfer platform for immigrants, which is powered by blockchain infrastructure. A Delaware C-Corp. Milwaukee-based CrossKudi has performed beta testing and established product market suitability, according to Northwestern Mutual’s announcement.
The other four startups in the second cohort are based in Chicago 4 Degrees, led by CEO Ablorde Ashigbi; Based in Washington, DC Mark Labs Inc., led by CEO Kevin Barrow; Based in Indianapolis Qualified, led by co-founder Devyn Mikell; and based in Washington, DC Bienthi, led by CEO Fonta Gilliam.
“We are honored to work alongside this group of talented founders and to continue the positive momentum we have gained through this innovative program,” said Craig Schedler, Managing Director of Northwestern Mutual Future Ventures. “The first group of founders to go through the accelerator continue to raise funds and move their businesses forward, and we are proud to continue our partnership with gener8tor to give more black founders the opportunity to put their businesses on the path.” success. “
The NMBFA is designed to accelerate black-founded startups in fintech, insurtech, digital health, and data analytics.
Recently, a former student of the NMBFA Tip that a ScRxipt received a main investment of $ 400,000 from Milwaukee-based venture capital firm Gateway Capital Partners. The fintech startup helps intermediaries such as healthcare providers and pharmaceutical companies roll out payment assistance programs.
In addition to Tip a ScRxipt, the inaugural cohort included SoLo Fund, Capital of the free man, RiftPay and TINT, which recently raised $ 1.6 million from investors including the Female Founders Fund and Serena Williams’ venture capital fund, Serena Ventures.