ImpactAlpha, November 3 – Beatríz Acevedo built mitú, a media and entertainment company for young Latinos. Now, she has adapted the engagement tools for SUMA Wealth to deliver financial education for millennial Latinos in the U.S., offering tools like a home-buying calculator, credit card payment planner, and savings advice.
The new company’s $1 million pre-seed round was led by Chicago-based Chingona Ventures and backed by Backstage Capital and a raft of female investors.
Chingona was one of the eight Black and Latino-run funds to share $50 million from PayPal. The firm has made 15 investments since January, with a focus on early-stage impact ventures and diverse founders (see, “Agent of Impact: Samara Hernandez, Chingona Ventures”).