About

Founded

2014

Headquarters

Brooklyn, New York

Industry

Fintech

Company Description

Propel's mission is to enable Americans with low income to improve their financial health. Propel’s free app, Providers (formerly Fresh EBT), is used by over five million Americans across the country each month. Propel is a for-profit company, originally founded through a fellowship at Blue Ridge Labs @Robin Hood Foundation. Propel’s investors include nonprofits, mission-oriented investors, and top-tier venture capitalists.

Quick Links

Website Jobs

Funding

Total Raised

$68.2 million

Valuation

Undisclosed

Significant Investors

Nyca Partners, Andreessen Horowitz, Kleiner Perkins, Mischief, Salesforce Ventures, Flourish Ventures

Company Traction

As of June 2023, Propel has rated 4.8/5 stars from 439K reviews on the Google Play Store and 4.8/5 stars from 252.6K reviews on the Apple App Store.

As of March 2022, Propel has 5 million monthly active users.

Leadership Team

Jimmy Chen: Co-Founder & CEO of Propel. Former Product Manager at Facebook.

Jeff Kaiser: Co-Founder & COO of Propel. Former Project Manager at Dalberg Global Development Advisors.

Ram Mehta: Co-Founder & CTO of Propel. Former Principal Architect at Fivestars.

Brian Nemhauser: VP of Product, Growth, and Data at Propel. Former Senior Director of Product Management, Adobe Express, Adobe Spark at Adobe.

Alan Williams: VP of Strategy at Propel. Former Director of Product Design at Civilla.

Press

Propel Blog (March 8, 2022): Propel raises $50m Series B to help Americans with low income make it through the month, every month

The New York Times (December 8, 2021): How Tech Is Helping Poor People Get Government Aid (Published 2021)

TechCrunch (December 14, 2018): Propel raises $12.8M for its free app to manage government benefits

Propel