EnrichHER founder and CEO Dr. Roshawnna Novellus has a lot to celebrate this Black Business Month. On August 18, she was honored in New York City alongside several successful Black women entrepreneurs as part of Mastercard’s Strivers Initiative. This initiative is a partnership with Fearless Fund. It aims to spotlight Black women-owned businesses as a vital part of our nation’s industries. The two-day celebration included a red carpet reception and a concert at the Apollo Theater. Mastercard ambassador and Respect movie star Jennifer Hudson performed at the event. Each Strivers honoree received a custom 3D portrait by artist Tyler Clark.
Dr. Novellus also appeared in a high profile Mastercard promotional spot that aired on national broadcast television and social media.
Forging her own path while helping others
This recognition comes on the heels of some recent milestones for the EnrichHER brand. In May, after a two-year long application process, the company became a Certified B Corporation. B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. B Corps use their business as a force for good and are highly regarded as agents of change.
Additionally, this summer, Dr. Novellus joined the ranks of the few Black women in business who have raised over $1M in venture capital funding. Last year, only 93 Black women reported raising more than $1 million. This number is up from 34 in 2018, according to a report titled ProjectDiane by Digitalundivided. Between 2009 and 2017, Black women received 0.0006 percent of tech venture capital investment. These grim numbers reveal just how difficult it is to navigate the financial world as a woman business owner. They highlight why Novellus founded EnrichHER — to make funding accessible to all, not just the wealthy.
“There are so many exciting developments taking place at EnrichHER right now,” says Novellus. “From the Mastercard Strivers Initiative and becoming a Certified B Corp to engaging businesses in our grants and accelerator programs to launching our new matchmaking platform EnrichHER nLove, it is truly humbling to see the progress we’re making in our mission to connect New Majority founders to funding. After a year like 2020, I am grateful to be leading a thriving business.”
For more information, visit enrichher.com.
EnrichHER is a financial technology platform that matches revenue-generating companies led by women and founders of color to individual and institutional sources of funding. Since 2017, EnrichHER has deployed upwards of $4 million through its platform and matched 163 business-owners to $14 million in working capital through its Accelerator. By providing capital, coaching and connections, we are fueling the fastest-growing demographic of business owners. Our network has engaged with over 23,000 advocates through its digital community and in-person activations.