Propel, a consumer technology company focused on helping low-income Americans, has secured a $3.5 million grant from the Bill & Melinda Gates Foundation.
The funding will be used to develop new AI-powered tools aimed at improving navigation of the safety net, including government programs such as SNAP (Supplemental Nutrition Assistance Program).
Founded in August 2014 by Jimmy Chen, Ram Mehta, and Jeff Kaiser through Blue Ridge Labs @ Robin Hood Foundation, Propel has revolutionized the way low-income Americans manage their public benefits.
The company's app, originally called “Providers” and now rebranded as “Propel,” allows users to easily check their EBT (Electronic Benefit Transfer) balances, a process that previously required calling a 1-800 number.
Over the past decade, Propel has helped 15 million people check their EBT balances 5.5 billion times.
New funding from the Gates Foundation will enable Propel to prototype and scale new technologies that continue to modernize the safety net.
The company's new AI-powered tools will help streamline access to public benefits and make information more accessible and intuitive for the millions of people who use them.
In addition to its enhanced AI capabilities, Propel has introduced new security features to its app, providing more secure options for managing EBT benefits.
A recent Propel survey found that EBT cardholders are increasingly concerned about theft of SNAP benefits, with 87% actively seeking ways to keep their benefits safe. In response, Propel developed a system that automatically scans and flags suspicious transactions, and in some states, allows users to lock their cards or block out-of-state transactions.
Reggie Bicha, president and CEO of the American Public Benefits Association, emphasized the importance of protecting people from benefit theft, saying, “Protecting people from benefit theft requires a collaborative, cross-sector approach. Propel has become a trusted source of information for millions of EBT cardholders by providing additional tools and information to promote card security.”
Ida Rademacher, vice president of the Aspen Institute and co-executive director of the Financial Security Program, praised Propel's commitment to innovation, saying, “For a decade, Propel has clearly demonstrated that business leaders can develop products for low-income Americans that support, rather than hinder, people's financial security.”
“We look forward to Propel continuing to innovate to help keep people financially secure and demonstrate leadership in the space for many years to come.”
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