‍Located at the Fintech Innovation Hub by Delaware Tech Park on the University of Delaware campus, CAFE is a non-profit organization that advances financial health & wellness for low- to moderate- income (LMI) and other underserved populations

CAFE Fintech Accelerator Program aims to support and scale revolutionary fintech businesses that prioritize financial inclusivity and innovation

Washington, D.C. (October 10, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks offering embedded finance, and the Center for Accelerating Financial Equity(CAFE), today announced the expansion of their strategic partnership to include companies selected as part of the second cohort of the CAFE Fintech Accelerator Program. The expanded partnership between AFC and CAFE will offer startups within the program access to a unique slate of AFC member benefits. This initiative underscores both organizations’ commitment to advancing financial equity through innovation and will expand their joint impact on the future of the financial services industry.

“We’re thrilled to see our relationship with CAFE grow in such a meaningful way,” said Phil Goldfeder, CEO of the American Fintech Council. “This accelerator program is an exciting opportunity to foster the development of groundbreaking technologies that have the potential to further democratize financial services and improve financial health for underserved communities across the country. By working together, AFC and CAFE can create lasting change in the financial landscape and provide startups a unique opportunity to engage with the wider responsible fintech community.”

Located at the Fintech Innovation Hub by Delaware Tech Park on the University of Delaware campus, CAFE is a non-profit organization that advances financial health &wellness for low- to moderate- income (LMI) and other underserved populations through fintech innovation and partnerships. The second cohort of the Fintech Accelerator Program is sponsored by AFC founding members Best Egg and recently announced the selection of Prismm, Odynn, Salus, Kredit Academy, Carvertise and Giving Credit for the second Cohort.

These startups, that were selected from applicants across the U.S., will gain educational support through CAFE’s robust accelerator curriculum, designed to help them grow and scale responsibly. Participants will now also benefit from access to a number of AFC’s industry events, including network roundtables and the annual Policy Summit. As CAFE Cohort Program members of AFC, companies will enjoy many AFC benefits, including access to a vast network of stakeholders in the fintech ecosystem.

“AFC’s focus on responsible innovation aligns perfectly with CAFE’s mission to foster financial wellness for underserved communities through innovative technology. That’s why we were proud to announce our strategic partnership earlier this year, and why we’re excited to share the launch of this important initiative today,” said Kristen Castell, Managing Director of CAFE. “Through the CAFE Fintech Accelerator Program, CAFE and AFC will increase the breadth and depth of our partnership and have a significant impact on the future of innovation in our industry.”

This program is just the beginning of what AFC and CAFE envision as a long-term partnership that will drive responsible innovation and promote a more inclusive and customer-centric financial system. As the financial services industry continues to evolve, both organizations hope the CAFE Fintech Accelerator Program will increase access to business development resources and connections for entrepreneurs and growing companies, highlight forward-thinking ideas, and concentrate support from a variety of industry players.

“Being a part of the CAFE Fintech Accelerator has already been transformational for Prismm. The program’s focus on financial equity aligns perfectly with our mission to empower families by simplifying wealth transfer,” said Martha Underwood, CEO of Prismm. “With the added partnership with the American Fintech Council, we will gain access to invaluable industry insights and a network that amplifies our impact. Together, we’re creating a future where financial security is accessible to all, and redefining what it means to leave a legacy.”

About AFC

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative BaaS banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About CAFE

CAFE (Center for Accelerating Financial Equity) is anon-profit dedicated to advancing the financial health and wellness for low- to moderate-income (LMI) populations through innovative fintech solutions and strategic partnerships. CAFE is based in the state-of-the-art Fintech Innovation Hub at the Delaware Technology Park on the University of Delaware’s STAR Campus. For more information, visit www.ftcafe.org.