Snowball Wealth, Inc.

Based in California, US, founded in 2019 by CEO Tanya Menendez, and Pamela Martinez, Snowball Wealth, Inc. , a. k. a.

Snowball Wealth is a financial technology company that provides a digital platform, offering an online community, social challenges, and AI (artificial intelligence)-driven planning to help users get out of debt and build generational wealth. In October 2022, Snowball Wealth raised USD 1. 6 million in pre-seed funding from Bumble, Goodwater Capital, Google for Startups, The Community Fund, and Ulu Ventures, with participation from individual investors. Snowball Wealth provides a next-gen money advisor in the form of a mobile application that moves people from debt to wealth via an online community, social challenges, and AI-driven planning.

The company’s community-driven approach empowers individuals to talk about debt, income and investing, and the AI-driven planning offers a personalized roadmap to guide members on how to tackle debt and begin investing. In addition, the application synchronizes members' accounts to get a complete picture of their debt paydown, cash, and investments. The company generates revenue from the subscription of its platform packages, which include a digital plan (USD 4 per month), starter (USD 35 per month), and wealth builder (USD 75 per month). Snowball Wealth plans to use its proceeds from October 2022 funding for further development of its next-gen money advisor.