Fintech for Black Wealth

Stackwell

Stackwell

Market/Space
FinTech
Stage
$3.5M Seed Pre-Product -> Growth Stage
The Scope
  • Prepping product for consumer launch
  • Go-to-market strategy + partnership execution
  • Testing environment for product/market fit

Bridging the racial wealth gap

Stackwell Capital is a digital investment platform with tools designed to increase Black ownership of financial assets. Only 34% of Black American households own equity investments compared with 61% of white families leading Black Americans to miss out on hefty gains.

The problem

Stackwell came to me pre-launch looking for help to set up the appropriate testing environment as they launched their app. They had pushed their launch two times previously - a third time was not an option. There was high anticipation after features in Black Enterprise bolstered their waitlist to 8,000 potential users.

After auditing the product - we realized the feature set was highly rotated around the performance of the initial onboarding. Working with the CTO and Trade Operations - we determined the initial environment that would help scale even if all 8K wait listers signed up immediately.

The launch was met with a warm reception as our audience intuitively responded, and Stackwell drew the attention of major financial institutions looking to partner.

Focusing on Repeatability instead
of Volume (Flywheel over Funnel)

With a successful launch underway - there was pressure to understand where our attention should be. Should we focus on brand awareness as the space becomes more saturated with diversity speak? Or should we go all-in with partnerships that can add complete verticals to our ecosystem?

The conversation around “growth” needed to be precise in execution without limiting our imagination strategically. We opted out of traditional funnel strategies and focused on our most crucially engaged community members. Implementing a flywheel offense, focusing on repeatability and velocity rather than sheer volume, required high collaboration between all departments. More than that, data would have to sit at the helm of all decision-making.

The more predictable the engine, the more our “core” could seamlessly attach specific growth initiatives to it. We knew fragmentation meant breaking trust with our audience that truly embraced authenticity and coherence.

Executing Unique Opportunities
(Partnering with HBCUs AND Engaging Community)

We launched our partnership with Hampton University working with President Williams to have “students’ money match their grind.” By seeding HU’s class of 26’ with $25 in their Stackwell investment account, the initiative was the first to create a dynamic, interactive education on financial content.

Measuring success for the partnership was twofold. Product measured the activity as students onboarded against expected behavior, while Marketing optimized the activation rate by testing channels + messaging + iterations.

The data + growth process disproved the initial assumption of the seed money being withdrawn or transferred to the student’s bank account given by the university. It became clear the students enjoyed investing. No one expected the number of students to add money to their investment accounts at a 10X multiple.

An Organic, Community-Driven Conversation

It’s easy for business initiatives to lose context since performance takes the front seat. However, pushing the conversation of investing forward is paramount. Listening to our audience and community drove marketing decisions to demystify an otherwise intimidating subject.

We coordinated with Hampton to have an open forum and workshops to create a safe space to begin their journey to building wealth. This conversation included having students be able to ask any question they wanted that had nothing to do with Stackwell’s investing app.

What is the power of investing? You had to have lots of money to invest. My parents don’t trust the stock market. What happens if I lose all my money? When can I begin my journey?

These questions were valid in understanding the student’s “drop-in” context. Their in-app journey could cater to their needs and money goals, teaching them the consistency and know-how of investing over yielding significant returns.

Results

The average time by a student doubled that of our regular users. Their activity informed 6-12 months of product roadmap + marketing execution plan. It allowed Stackwell to grow based on the user’s needs and the community rather than guesses on the market trajectory.

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