Raising $3M Seed Capital as a WOC Founder (and She’s Just Getting Started)

SheVentures

Representation of women in the fintech industry is scarce. So scarce that women make up less than 10 percent of fintech founders or executive board members, according to a recent paper from the International Monetary Fund. But Sofiat Abdulrazaaq is changing the game for women of color in fintech.

Abdulrazaaq is the co-founder of Goodfynd, a platform that began as a way to help consumers find nearby food vendors/trucks and facilitate ordering and delivery where available.

Goodfynd also has a B2B application. Abdulrazaaq identified the need for all mobile vendors — food or otherwise — to have an accessible and affordable one-stop shop to run their business. This “business in a box” model is meant to reach the under-served community of first generation and immigrant mobile vendors, allowing them to include what they need from the Goodfynd platform — without extra bells and whistles. What started off as an organic quest to find food trucks before the pandemic morphed into B2C and a scalable B2B model.

Pivoting from a stint in privacy law (she got her JD then decided to become an entrepreneur), Abdulrazaaq shows resilience in the face of hardship as a woman of color in a male-dominated world.

Listen to Abdulrazaaq discuss raising capital and launching Goodfynd, on this episode of SheVentures.

1:45 Abdulrazaaq discusses her career pivots.

4:20 How did the idea for Goodfynd emerge?

10:15 Abdulrazaaq reflects how a grant from Lighthouse Labs helped her and her co-founders create a proof of concept.

19:05 Will Goodfynd expand its business model to all mobile businesses?

22:12 What does being an “impact-first executive” mean to Abdulrazaaq?

25:22 Abdulrazaaq shares her experience as a woman of color raising capital.

33:55 What are her three tips for women pursuing entrepreneurship?

38:06 Where can listeners learn more about Goodfynd?