Tearsheet Podcast: The Business of Finance   /     Uprise makes entrepreneurial finance simple feat. CEO Jessica Chen Riolfi

Description

Launching a startup is challenging. It becomes even more difficult when tackling personal and business finances that confound entrepreneurs. Enter Uprise, the brainchild of Jessica Chen Riolfi and her co-founders. Uprise offers human-driven financial advisory services embedded into small business (SMB) platforms, like banks or personal finance sites. Uprise addresses the unique financial needs of entrepreneurs which include dealing with personal and professional cashflow. Jessica has extensive experience from companies like Robinhood, Earnin, Wise, and eBay. This background drives her approach to financial services. Jessica shares, “Financial advisory, in this context, combines personal and business finances. It helps entrepreneurs make holistic financial decisions.” Lack of personalized financial advisory services at Robinhood inspired the genesis of Uprise, especially for SMBs. Jessica shares a passion for simplifying financial products with her co-founders Chris and Nantha. Together, they work to make financial solutions more accessible, bridging the gap between business and personal finance for small business owners. Uprise initially targeted Gen Z and millennials but quickly pivoted to focus on older SMB owners. This shift met the growing demand for comprehensive financial advice. It specifically targeted consultants, freelancers, and creators. “The small business world is one where personal and financial lives are intermingled,” Jessica notes. She underscores the intricate needs of her firm’s clientele. The genesis of Uprise Uprise emerges from a vision shared by Jessica and her co-founders, Chris and Nantha. They noticed the gap in financial advisory services for SMBs, where personal and business finances often overlap. As Jessica puts it, “We help them make financial decisions. And we kind of ignore the line between business and personal.” This approach recognizes the unique needs of entrepreneurs. Role of embedded finance in Small Business growth Embedded finance is at the core of Uprise’s model. It is integrated into SMB platforms and Jessica explains, “Every small business owner interacting with our platform is assigned a human advisor.” This strategy not only builds trust but also addresses the specific financial advisory needs of SMBs. It offers a personalized experience. Jessica highlights the importance of understanding the distinct needs of different SMB sectors. For example, therapists using the vertical SaaS platform, Heard, prioritize personal relationships. This prompted Uprise to offer more direct communication channels like Zoom calls. “Calls matter a lot to therapists,” Jessica observes. She illustrates Uprise’s adaptability to various client preferences. Financial planning for entrepreneurs Uprise has tailored its services to the intricate financial landscapes faced by entrepreneurs. Jessica emphasizes the importance of understanding personal and business finances. She highlights how they are interconnected. She offers advice on entity setup, retirement account options, and mortgage applications. “These are business-related questions, but they very much impact their finances,” Jessica emphasizes. She highlights Uprise’s holistic approach. Building successful partnerships with SMB platforms Uprise’s success is intertwined with its partnerships, where Jessica sees a collaborative effort. She notes, “It’s very much a revenue driver for our partners, who are SMB platforms.” Uprise customizes its offerings to meet the unique needs of each platform. This ensures that both partners and end users enjoy their financial advisory services.

Subtitle
Launching a startup is challenging. It becomes ev…
Duration
00:26:49
Publishing date
2024-12-11 00:00
Link
https://soundcloud.com/tearsheet/uprise
Contributors
  Tearsheet
author  
Enclosures
https://chrt.fm/track/2EGB9D/http://feeds.soundcloud.com/stream/1967013947-tearsheet-uprise.mp3
audio/mpeg