*By Conor White*
With $27 million in new seed money, the Female Founders Fund announced it plans to invest with women who are developing financial technology that will keep pace with new trends in online banking.
"The way millennials are considering their relationship with traditional banks is fundamentally changing," said Anu Duggal, a founding partner of the Female Founders Fund. "I think they want a different experience, they want transparency, they expect the same kind of technological experience that they're getting from all of the other consumer-facing apps or businesses that they interact with."
The fund's new initiative is backed by some of the most influential women in the world, including Melinda Gates, the Rent The Runway co-founder Jenny Fleiss, and the founder and CEO of Stitch Fix, Katrina Lake.
Female Founders Fund invests exclusively in companies founded by women, something Duggal said is more important than ever.
"When you look at the current landscape, whether it's the Amazons, Googles, Facebooks, Yahoos of the world, you have this group of women who've helped these companies scale and understand the skill set that is required to build a business from the ground up," said Duggal. "And so I think that we're at a really pivotal time in terms of, these women are ready, there's an opportunity from a consumer standpoint, and they're really taking advantage of it."
For the full interview, [click here](https://cheddar.com/videos/female-founders-fund-celebrates-27-million-seed-fund).
Smartphones could get much smarter this year as the next wave of artificial intelligence seeps into the devices that accompany people almost everywhere they go.
The plans would include nearly 20,000 homes initially for 50,000 residents and could grow to 400,000 people.
In an annual assessment of global inequalities, Oxfam International said the first trillionaire could emerge within the next decade — as the anti-poverty organization pointed to the growing wealth gap that skyrocketed globally during the pandemic.
The Biden administration proposed a cost drop for overdrawing bank accounts, which it says could particularly relieve Americans living paycheck to paycheck.
With thousands of layoffs in tech and beyond, how workers can keep their skills sharp, plus reasons to be hopeful when looking at the job market.
Taking a look at investment strategy as the new year gets into full swing.
Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone. The Commerce Department said retail sales rose 0.6% in December compared with a November’s 0.3% increase.
A New York architect charged in a string of slayings known as the Gilgo Beach killings was accused in a 25-year-old Connecticut woman's death.
Uber purchased Drizly in a cash-and-stock deal for $1.1 billion in 2021. The drink delivery app will shut down in March, according to Uber.
After Donald Trump's victory at the Iowa caucus, Nikki Haley and DeSantis continue their campaigns as New Hampshire's primary looms.
