This story initially appeared on Black Enterprise
This entrepreneur is retaining variety in thoughts as she builds her platform.
Doctor Ami Kumordzie developed a fintech platform with no expertise and a mission to attach customers with IRS-compliant retailers, urging folks to spend money on bettering their well being.
In line with Forbes, after the Sika Well being CEO noticed the issues throughout the healthcare system whereas learning at Stanford College College of Medication, she determined not to enter residency and received her M.B.A. as an alternative.
“My first job was as a administration guide working for healthcare shoppers at BCG,” she stated including that the analytical place helped her determine the hole out there.
Kumordzie was impressed to launch Sika Well being after her mom was laid off from her lodge job in the course of the pandemic.
“Regardless that I’ve labored in healthcare my whole profession, I needed to scramble and virtually develop into a tax skilled to determine how she [my mother] may spend these funds earlier than she would lose them,” she stated.
“About 70 million Individuals are enrolled in FSA or HSA accounts, contributing about $150 billion a 12 months,” Kumordzie stated, noting the main loss customers expertise from forfeiting their FSA advantages.
“That is an actual tragedy as a result of it’s cash folks may have invested in bettering their well being,” Kumordzie stated.
“We want extra methods to avoid wasting and instruments that assist stretch our greenbacks,” she stated. “[Using FSA and HSA dollars] successfully signifies that you are shopping for healthcare at 30% off bills.”
Kumordzie raised $6.2 million within the early phases of funding.
“The objective was to boost $500,000,” she stated. “Inside weeks, I surpassed my objective and raised $1.2 million.” Kumordzie reached $5 million later throughout a seed funding spherical led by Forerunner Ventures consultant Brian O’Malley.
“Having a model like Forerunner as one in all our backers makes an enormous distinction while you’re attempting to rent,” Kumordzie stated. “It makes an enormous distinction while you’re having a hiring dialog and attempting to persuade somebody to depart their high-paying secure job to take a danger on an early-stage enterprise.”
Kumordzie credit her non-traditional background to the success of drawing enterprise capitalists.
The fintech founder needed to have the ability to rent nice tech professionals and finally, Sika Health was in a position to rent the founding engineer of the funds group at Etsy.
“Sika is on a mission to make sure prospects can entry and spend their HSA/FSA funds on gadgets they need, when they need, hassle-free,” the web site wrote.
Supply: Entrepreneur