Many women want to go into business for themselves. They have a great idea that really fulfills a need and/or solves a problem. While many would be female entrepreneurs have a solid business idea and a great product or service; they tend to lack financial funding. It is a known fact that venture capitalists and financial institutions typically do not lend a lot of money to female borrowers. The reality is that many females are persistently denied funding for startup.
Whitney Wolfe wants to change this situation. She realizes that black women only receive a meager 0.02% of funding for their projects. She knows that something is truly wrong with that data. She also knows that venture capital dollars never exceeded more than 5% total for female borrowers between the years 2005 and 2017. This is an alarming state of affairs for females involved in the world of business. Visit her article at techcrunch.com to know more.
Bumble was founded by Whitney Wolfe. She had her money to put toward her project, but she would need more funding to make Bumble a top tier dating platform. Thankfully, she received helped from Andrey Andreev who is the founder of Badoo. His support played a key role with getting Bumble up and running. Wolfe just wants female entrepreneurs to have a helping hand like she did.
The Bumble Fund was created by Whitney Wolfe to ensure that women receive the capital they need to get their ideas off the ground. This is an important funding source for would be entrepreneurs. Women who have a solid business idea can receive funding from the Bumble organization. Bumble Fund is already supporting a few women who have come up with some great products and services. Whitney Wolfe’s Bumble Fund is making a difference. This funding source helps women to succeed in a area of business where they have been marginalized for many years.