by Stacy Jackson
June 7, 2024
Hello Alice, a fintech platform dedicated to supporting underrepresented entrepreneurs, has emerged victorious in a lawsuit filed by America First Legal, which sought to undermine the company’s mission of providing equitable access to capital and resources.
The dismissal of the case by a federal judge in Ohio marks a significant milestone for Hello Alice and the broader small business community in the United States. “This resolution marks a pivotal moment not only for our company but for the broader small business community in the United States,” Elizabeth Gore, co-founder and President of Hello Alice, stated in a press release. “Facing a labor shortage, heightened interest rates, and inflation, this country needs its small business owners, and they, in return, need the capital and resources that programs like Hello Alice provide. We are thrilled for the judgment in favor of Hello Alice, as this represents one less threat to our nation’s small business community and economy.”
Lead counsel Neal Katyal, representing the fintech platform, believes the dismissal is crucial for diverse small businesses competing in today’s economy. The decision has further propelled the company’s mission to foster an inclusive ecosystem where every entrepreneur has the opportunity to thrive.
Hello Alice has experienced significant growth, closing its Series C venture raise and expanding its community to support 1.5 million small business owners.
The company has also introduced a range of inclusive financial products and programs, including the company’s Small Business Mastercard, the Business Health Score, the Equitable Access Program and Fund, and Elevate the American Dream. Through Elevate the American Dream, Hello Alice has already distributed 49 grants this year, bringing its total grant funding to over $40 million. The latest funding round will fuel the expansion of the platform’s cutting-edge, AI-powered financial health services and its dedicated Small Business Funding Center, a vital conduit connecting business owners with the capital they need to thrive.
Matt Brewster, chief financial officer at Hello Alice, recently appeared at Mastercard’s Small Business Summit in New York City to impart invaluable insights and strategies for small business owners looking to gain a competitive edge in today’s fast-paced and ever-evolving market.
