OfColor secures investment from PSG
Summary
OfColor, an enterprise SAAS provider focused on the financial health of employees of colour, has secured a strategic seed investment from funds advised by PSG, a growth equity firm partnering with middle-market software and technology-enabled services companies. Believing that existing programs fail to adequately support Black, Latinx, and AAPI employees, Rose created OfColor to deliver wealth-building solutions focused on budgeting, savings, and automated debt reduction, as well as access to culturally competent in-person and ai-driven advice. I view the workplace as an ideal distribution centre for these solutions, and the good news is that there’s a solid contingent of visionary corporate leaders who are dedicated to enabling their employees of colour to build financial legacies. “Yemi and the OfColor team are addressing a paramount issue and we’re honoured to have the opportunity to support the important work they’re doing to help progress toward equitable financial wellness,” says Mark Hastings, Co-Founder and CEO of PSG. “We’re energised by the significant opportunities for OfColor to grow and make a meaningful impact, underscored by increasing number of organisations committing to advance diversity, equity and inclusion.”