Welcome to the Founder Spotlight series where we get to know a tech founder who is working to create the next billion dollar company. Show your support by sharing her story and increasing the visibility of black women in tech!
Name:
Angel Rich
@angelrich27
Company: The Wealth Factory
Financial literacy education technology games.
@wealthylifers #CreditStacker
What made you want to become an entrepreneur in tech?
I wanted to leverage technology to scale poverty reduction.
Where did you get the idea for your business?
In 2009, during my senior year at Hampton University, I walked into the library as I did every day, and a group of strangers were waiting for me. “There’s the girl,” they shouted and rushed over. “We want you to lead us in our Goldman Sachs Case Competition.” Confused, I replied, “I don’t know anything about the stock market and I’ve never done a case competition.” “We are confident you can lead us” they said with high hopes. “Okaaay,” I reluctantly agreed as they guided me to my first view of the stock market ticker at the nearby computers. Fortunately, I interned at FINRA that summer with Jared, a market analyst. In one call he taught me how to “buy high/sell low.” I then conducted a 25-year regression analysis of GS’ 2 page list, developing a concrete algorithm for crisis reactions. Our team won with 2%+ with the market at -2%. I then asked myself — how would anyone figure this out? It then occurred to me that there needs to be some type of game where people can live out their financial life without the risk of losing their money.
Run this company how you want to, girl.
What is the most rewarding part of being an entrepreneur?
Being able to build a ladder to help other entrepreneurs climb and helping to bring shape to the financial lives of underserved communities.
What are you an expert in?
Financial inclusion and the behavioral economics.
What advice would you give yourself before you started this company?
Run this company how you want to, girl. You know what you’re doing and you’re doing it differently. Don’t worry about people, no one can advise a path they have not walked.
When will you feel like your company is successful?
When I’m in the printed version of Forbes and have $500,000 in the bank.
Tell us something cool you recently learned, big or small.
That there is no trait that identifies the likelihood of a Black founder to be successful. Instead, the common denominator is our ability to overcome the obstacles that are placed in front of us.
What’s the biggest thing we can help you with so you can become a billion dollar founder?
Funding introductions and recommendations.
Thanks, Angel!
