There are millions of startups every year that never get funded. Lately, funding can come from multiple sources, Angel Investors, Venture Capital or the newcomers on the block, crowdfunding campaigns. Many companies honestly don’t have the potential upside to make an individual or organization fork over 6,7 or even 8 figures of funding for a project. Currently, statistics show around 1% of startups in America receive funding And it is precisely this statistic that makes Duuple CEO Abby Frimpong stand out.
Ms. Frimpong has already closed on a round of funding from Basel Holding, a major player in fintech, and is currently exploring a second injection of capital from other sources. So, how is it that a young Ms. Frimpong beat the odds and got her company funded? The answer is easy, like all great founders, she began with a personal interest: she simply enjoys helping people. Staying true to her passion, in the long run, is what gave the experience and the character to catch the eye of Basel Holding founder Burak Basel.
After a long history of volunteering, fundraising for educational institutions like Georgetown Prep and smaller-scale community fundraising Abby landed a position with Adventist Healthcare. There, she was able to leverage the power of the Shady Grove Adventist Hospital’s already established brand to magnify the impact of her fundraising work. Abby’s fundraising savvy brought in enough support from the hospital’s community to construct an outpatient diabetes care facility. As part of the fundraising team, they raised $25 million for the hospital cancer center prior to her departure.
Sticking to her passion for helping people, Ms. Frimpong’s next position was with an NGO called Mines Advisory Group. In America, we don’t have a fear of stepping on landmines in our fields or backyards, yet across the world, there are dozens of countries where our fellow humans do not share this luxury. Yet again scaling the impact of her talents, Ms. Frimpong went straight to work keeping the donations coming in. Those donations ensured that people and their loved ones the world over can live without fear of death or injury from unexploded bombs long forgotten from wars past.
After years of sharpening her own fundraising skills, Abby wanted to create a way to share her talents with the many causes that couldn’t afford to bring on a dedicated staff member or team to handle fundraising. In fact, even with crowdfunding technologies, less than half of campaigns get funded. Many of those that fail to receive funding are campaigns managed by people not too savvy with digital marketing, they’re just everyday people who need help. Abby had a vision. There had to be a better way to crowdfund. A better platform that could empower a grandma in Nebraska who was no tech wizard to market and manage a campaign successfully. Thus, Duuple was born. The fundraising brainchild of a now seasoned fundraising veteran.
There is a saying in venture capital: “You don’t invest in companies, you invest in people.” It’s true. An investment, especially a sizeable one, is an extension of trust from the financier to the founder. This is always made more comfortable when the financier and the founder have shared values. To this tune, Basel Holding’s core values of sustainability, integrity, collaboration, innovation, and flexibility align perfectly with Abby’s purpose. Duuple’s mission is to create a fun platform for social innovators and organizations. To further the empowerment of each other and their communities, donate to causes, and advocate for issues that matter. Mr. Basel clearly saw Ms. Frimpong’s vision.
The alignment is also strategic for Basel Holding as they have a long background in FinTech and are perfect partners to help Ms. Frimpong bring her platform to life. Now, Duuple’s audience is expanding and Abby is adjusting to being the CEO. While she’s proud to have beaten the odds, Ms. Frimpong’s journey is just beginning. She is part of a new generation of female CEOs re-shaping the landscape of the modern c-suite. One thing is for certain. Abby Frimpong is a force for good and she’s going to keep changing the world by igniting people to take action and giving everyone an opportunity to become an agent of change.
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