Fintech Startup Athlete+® launches banking services for athletes. Athlete+, the financial training company, is on a mission to build fair financial and monetization products that level the playing field for all athletes. Athlete+ provides a debit card and spending account, helps athletes bank, budget, find work, build credit and automate name, image and likeness (NIL) deal flow.
CHICAGO, 20 October 2022 /PRNewswire-PRWeb/ — Today, Athlete+® announced the launch of its financial training platform for athletes. It means Rob Gronkowski no need to keep trying to join USAA like in the commercials. Instead, he can now join Athlete+, a new bank for current and former athletes that makes banking and financial education universally accessible through education, technology and automation.
“In the United States, professional athletes signed contracts worth almost 22 billion dollars last year, and college athletes almost signed 500 million dollars in name, image and likeness (NIL) agreements. Yet most athletes remain underbanked and lack the resources needed to maximize their earnings,” said Mike Fingado, CEO of Athlete+. “It’s a disservice to athletes that [according to the NCAA]60 percent of athletes received no financial literacy education during high school or college orientation.”
Athlete+ provides real-time feedback on spending habits, along with easy-to-understand snippets of financial education through its mobile-first banking app and exclusive debit card. In addition, members can earn extra money by meeting savings goals, passing personal finance quizzes and choosing automated NIL endorsement deals powered by Athlete+ NIL Score®.
“As athletes gain access to new revenue-generating channels, it will become critical for athletic departments to expand existing financial literacy programs, and we can help them do just that,” said Brian Dzingai, CFO of Athlete+. “We’ve seen time and time again that without basic financial literacy, student-athletes, managing various sources of income and how they spend it, are at risk for increased levels of stress and anxiety that can negatively impact their long-term financial well-being.”
Co-founders Mike Fingado and Brian Dzingai, OLY, both former athletes, landed on the idea of a bank for athletes after consulting thousands of athletes through Athletepreneur®, an athlete-centric business network they previously co-founded. They discovered that most athletes don’t trust or fit into the traditional financial system due to socioeconomic factors, a sentiment echoed by athletic departments and coaches.
“If you’re from a marginalized group shut out of the education system or the financial system, how do you ever learn to create wealth, generate wealth, and later preserve wealth?” so John BeamAthletic Director at Oakland’s Laney College
Unlike traditional banking products, Athlete+ is athlete-driven and mission-focused, building trust in community banking to empower these customers to succeed financially on and off the field.
“The financial industry and society continue to undervalue many demographics and communities, especially Black America,” said Brian Dzingai, CFO of Athlete+. “However, Athlete+ uses diverse backgrounds, experiences and viewpoints to give us an edge in everything we do.”
Athletes at more than 40 colleges from Division 1 to Division 3, Power5 conferences and HBCUs have already signed up for the waiting list and taken the Athlete+ financial literacy quiz and NIL Score® assessment. Even former professional athletes from the NFL, MLB and other leagues have shown great interest in the affordable training products of Athlete+.
“Our products are purposefully layered so we can support athletes at every level of their athletic and financial journey, from the high school prep athlete to the retired Super Bowl champion,” said Mike FingadoCEO of Athlete+.
Athlete+ has opened a community round of funding through a partnership with Wefunder so that the athlete community and sports fans can participate in the company’s upside as it seeks to become a name brand in sports and finance. The Wefunder campaign page is now live at https://wefunder.com/athleteplus.
The company has assembled a management team with extensive experience in technology, financial services and sports media at Deloitte, ESPN, Uber, Visa, JP Morgan and Amazon. Atlet+ CEO, Mike Fingadois also an early investor in other notable fintech startups such as Mercury, Albert and Alto.
About Athlete+
Athlete+, the financial training company, is on a mission to build fair financial and monetization products that level the playing field for all athletes. Athlete+ provides a debit card and spending account, helps athletes bank, budget, find work, build credit and automate name, image and likeness (NIL) deal flow. For more information, visit http://www.athleteplus.com.
Athlete+ is a financial technology company, not a bank. Banking services provided by Evolve Bank & Trust®; Member FDIC.
Contacts
Mike Fingadoathlete+
[email protected] | 415.603.0336
Media contact
Mike FingadoAthlete Plus Inc, 1 4156030336, [email protected]
SOURCE Athlete Plus Inc
