Bank / Credit Union
Discover Bank intros $36M fund for Delaware financial health
June 15, 2023
Discover Bank has introduced its Financial Health Improvement Fund in Delaware to support startups and technology companies that develop solutions to improve the financial health of low and moderate income communities and small businesses. It has made an initial commitment of $36 million, according to a press release.
The Financial Health Network will evaluate startups, while ResilienceVC and Chartline Capital will manage Discover's early and later-stage investments respectively.
"We continually explore innovative ways to support our communities in which we operate and creating the Discover Financial Health Improvement Fund is a unique way of doing that," Matthew Parks, VP of Discover Bank, said in the release. "As technology continues to evolve, we want to fund entrepreneurs who have identified creative ways to benefit those of modest means. It is our expectation that these technologies can both be profitable and beneficial to the community."
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