Sootchy
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Type of site | Private |
|---|---|
| Headquarters | Los Angeles, California |
| Founder(s) | David Adefeso |
| Key people | David Adefeso (Founder & CEO), Emma Willis (Chief Operating Officer), Joanna Bunten (Chief Operating Officer) |
| Industry | Financial services |
| Employees | 2 |
| Website | www |
| Launched | 2018 |
Sootchy, Inc. is an American financial technology company based in Los Angeles, California that enables parents to leverage the power of family and friends with contributions to 529 college savings accounts that help fund a child's higher education.[1]
History[edit]
Sootchy was founded in 2018 by David Adefeso, who is the founder and CEO of Sootchy Inc (a startup that makes it easier for families to avoid student debt with 529 plans).[2]
Adefeso visited Northwest Arkansas in early 2020 before the COVID-19 pandemic and was introduced to the area by consultant Emma Willis, who has since joined the company as chief operating officer. In November, Joanna Bunten joined the company as chief marketing officer after working in marketing for five years at J.B. Hunt and six years with the Arkansas Scholarship Lottery.[3]
In June 2023, Sootchy is considering eight cities for a pilot program that would create post-secondary education funds for the chosen city's children.[4]
Sootchy is considering Port Arthur for a pilot city program that can create a pathway for qualified families to invest in college or trade school. If Port Arthur is selected, Sootchy would run financial literacy classes for students and parents. Each family within the selected community would also have two financial accounts: a custodial account, which family or friends would have access to, and an account for donors to match the funds.
Services[edit]
Sootchy's platform lets parents establish and manage 529 plans, which provide a tax-advantaged option for families to save for college educations.[5] The company works to build a college fund for children while also teaching them about financial independence. Sootchy partners with businesses and other stakeholders to create college funds for students. In addition, they have built a financial literacy program to teach children the value of credit, avoiding impulse buys, the difference between assets and liabilities.[6]
References[edit]
- ↑ "sootchy". crunchbase.com.
- ↑ Farrington, Robert. "Can Biden Really Forgive Student Loans By Executive Order?". Forbes. Retrieved 2023-09-09.
- ↑ Rosa, Jeff Della (2021-01-21). "LA startup Sootchy forms team in Northwest Arkansas". Talk Business & Politics. Retrieved 2023-09-09.
- ↑ Ferguson, Sydney (2023-06-23). "Company considers Port Arthur potential pilot city for generational wealth program". KFDM. Retrieved 2023-09-09.
- ↑ Huang, Coco (2020-08-30). "Sootchy App Helps Parents Crowdfund College Costs". Los Angeles Business Journal. Retrieved 2023-09-09.
- ↑ Batson, Monique (2023-06-24). "National company considering Port Arthur to launch college prep, financial education program". Port Arthur News. Retrieved 2023-09-09.
This article "Sootchy" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Sootchy. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- Website or dot-com company
- Financial services companies based in California
- Financial services companies established in 2018
- Financial technology companies
- American companies established in 2018
- 2018 establishments in California
- Privately held companies based in California
- Education finance in the United States
- Student loans in the United States
- Tax-advantaged savings plans in the United States
