Moneda Moves (127): Unlocking Economic Power Starts with Latinas | SHENIX Founder
Today we are talking about an issue near and dear to my heart, unlocking Latina power. It’s also the topic of the latest Moneda Moves episode, so if you haven’t I’d encourage you to take a listen to the latest episode with fintech app SHENIX founder Olga Camargo and let me know what you think.
For a second, I want to do a flashback to a world before the pandemic, when the word “unprecedented” took a whole different meaning. It was the word we could use to describe: Latinas were projected to grow by 25.8%, close to 9 times the projected growth of white women in the labor force, the new businesses generation in our communities, and the growth in Latinas earning a college degree.
Enter the pandemic, and this is when we saw our community take a hit and Latinas exit the domestic workforce at one of the highest rates. And while the last two years certainly pose a challenge, Olga Camargo, founder of fintech company SHENIX is optimistic we have much more economic power to unlock in our Latina community, with some education, advocating for equal pay and investing. SHENIX is a Latina-founded app that works with its clients to educate, provide negotiation skills, and develop actionable plans to build wealth.
It’s also based in my hometown, Chicago, where Latinos are the city’s second-largest ethnic group. I’m eager to see the impact this app makes in my hometown, and ahead of then we are talking with Olga about founding her fintech company and the importance of culturally-relevant financial service.
Con poder,
Lyanne
Headlines to put on your radar.
New Latino media startup launches with historic $80M raise: A new Hispanic media company, Latino Media Network is taking shape with one of the largest capital raises earned by a Latina-owned and run startup in the US. Jess Morales Rocketto and Stephanie Valencia have raised $80 million to grow their network which already owns 18 Hispanic radio stations across 10 markets — and these aren’t just any markets, they are among the largest in the country. Think Los Angeles, New York, Chicago.
Talent and leaders the founders are bringing into the fold include established Latina anchors like Maria Elena Salinas, actors like Eva Longoria and also politicians. Read more about it in Axios and NBC News.
New Initiative to Educate Black & Latino Investors Receives Support From Nasdaq Foundation: It’s a good day to see Nasdaq in the headlines. For some background, that is my (Lyanne) former full-time employer! And in the realms of committing to financial inclusion, we love this latest step the Nasdaq is taking to helping underserved communities take a step closer to building generational wealth.
Nasdaq has combined forces with My Money My Future, a fintech platform for financial inclusion led by Ramona Ortega who we have also interviewed on Moneda Moves, and Black and Brown Founders, to provide financial education to underserved communities.
Thank you for joining us! Until next week, catch us here on Moneda Moves.