Financial Finesse Ventures announced today it is creating its first partnership to promote investing with a positive impact with Rayze, a fintech company founded by NFL football player Carl Nassib.
Financial Finesse Ventures was created last month to provide funding for fintech companies that have a positive impact on the community. Rayze is the first of what should be a number of investments by the firm, Liz Davidson, CEO of Financial Finesse Ventures, said in an interview.
“Fintech is maturing very quickly and Rayze is a company that will have an exceptionally high positive social impact,” Davidson said. “It is technology that will match potential donors with charitable organizations. Charities have been having difficulties reaching potential donors, particularly Gen Z and millennials. The old style of funding raising is no longer working. This provides a much more efficient and low cost way for charities to reach donors.
“Our funding will enable Rayze to scale their efforts,” she said. Davidson did not specify the funding amount.
The fintech platform was created by Nassib, who was an outside linebacker for the Tampa Bay Buccaneers of the National Football League.
Financial Finesse Ventures is the venture capital arm of Financial Finesse, a provider of financial wellness coaching as an employer paid benefit.
“What Carl is doing is truly revolutionary. Rayze is the first social media platform to focus on charitable giving. We were drawn to the concept for its potential to significantly increase charitable giving, as well as the impact we believe it will have on users’ mental health, something social media has grappled with for a very long time,” Davidson said in a statement.
Rayze was created to make it easier for donors to find charitable giving options. Rayze will use the Series A funding and incubation support from Financial Finesse Ventures to scale its user base and find ways to increase both donations and volunteering, Rayze said.
“Rayze started off as an idea, with the goal to more easily connect volunteers and potential donors with non-profit groups seeking support. We wanted to reach younger, digital-only generations where the current philanthropic model isn’t working,” Nassib said in an email. “At the click of a button, Rayze helps them donate and find volunteering opportunities that align with their interests and passions. For charities and nonprofits, Rayze provides a highly efficient and cost-effective way to fundraise and generate more donations from younger donors, setting themselves up for a future where they are able to grow, thrive, and help more people in need.” The funding will “allow us to expand our membership base and fundraising technology.”
Rayze has applied for a patent on a proprietary QR code-based technology.
“Rayze can be a way for financial advisors to breach the gap between their clients and their clients’ children and to reach the large millennial and Gen Z populations,” Davidson said.