User:Intellectualhustle/Breaux Capital

Mission
Breaux Capital is the first financial technology company that provides a space where Black men can pool and invest their money, create new businesses, and build their community – together. Their products are designed to increase the financial wellness of economically marginalized populations. Breaux Capital is merging research-based methods and curated cultural tribes with modern technologies to enhance financial knowledge, automate asset accumulation, and facilitate wealth generation.

Background Research
Backed by the National Science Foundation, Breaux Capital is built upon extensive behavioral economics research related to minority participation in and perception of mainstream financial services. Founder, Derrius Quarles’ conducted the underlying research while completing his Master’s coursework at the University of Pennsylvania Graduate School of Education. According to the historiographic research of Dr. Jessica Gordon Nembhard, African-Americans have long used cooperative economic organizations to combat endemic poverty and tumultuous financial markets. Using these collective insights, Breaux Capital’s beta technology and surrounding processes were built from the ground up to create value for communities of color.

The Founders
Breaux Capital was founded in 2016 by Derrius Quarles and Ras Asan Olugbenga. Founders of the education company Million Dollar Scholar, Derrius and Ras met while studying abroad in Ghana as Sociology majors at Morehouse College. After both graduating from Morehouse in 2013, they completed the Velocity Indiana startup accelerator where they received an equity investment in Million Dollar Scholar and three months of workspace/business advisory services. They went on to become semifinalist in the Miller Lite Tap The Future Business Competition, winning $20,000 for Million Dollar Scholar at a live pitch competition judged by Shark Tank investor Daymond John. They also completed the Techstars Rising Stars program in New Orleans and secure an investment from the New Orleans Startup Fund via the PowerMoves Fellowship led by business executive, education advocate, and investor, Leslie Jacobs who mentored them during the fellowship. After experiencing challenges related to securing capital for their startup and being exposure to the racist structures currently present in the startup, venture capital, and private equity industries – Breaux Capital emerged as a means to both enhance financial health in communities of color and assist future underrepresented entrepreneurs in securing the resources they need to be successful.