*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).
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
