Indianapolis-based Elevate Ventures is investing approximately $40,000 into a financial wellness company which is targeting millennials and Gen Z couples. Enriched Couples, located in New Albany, says it’s trying to help young couples to better communicate about money issues and to develop financial teamwork skills.
The company said this week it received two investments from the venture capital fund.
“Enriched Couples is perfectly positioned to address the growth potential at the intersection of the fintech and wellness,” said Kyle Keeney, an Elevate Ventures Entrepreneur-in-Residence focused on the southern Indiana region.
Part of the funding comes from the Elevate Nexus program which helps early-stage companies. The remainder comes from Elevate’s Community Ideation Fund.
“Millennials and Gen Z adults are facing intense financial pressure and anxiety about their futures. That puts a lot of pressure on relationships,” said Annette Miller, co-founder of Enriched Couples.
Miller explains their business model blends psychology with financial empowerment.
“Couples usually default to trial and error or putting their heads in the sand,” said Miller, as she explained what couples often do to avoid discussing money. “What we’re so excited about is the huge opportunity to help couples forge that teamwork and trust immediately. “
Enriched Couples says it was a 2020 graduate of the inaugural Elevate Origins program, which helps entrepreneurs prepare for Elevate Nexus pitch competitions.
The product is projected to launch in May 2020.