We’re pleased to present our latest installment in our feature series – “FintekNews Celebrates #WomenInFintech“. This week, we’d like to introduce you to Yuliya Tarasava, Co-founder & COO of CNote, an impact investment platform delivering competitive returns by investing in women, minorities and low-income communities across America.
NAME: Yuliya Tarasava
TITLE: Co-founder, COO
WEB ADDRESS: www.mycnote.com
1) What does your financial technology firm offer?
CNote is an impact investment platform delivering competitive returns by investing in women, minorities and low-income communities across America. With a growing network covering more than 35 states, CNote members have already helped create or maintain over 1,200 jobs and have funded more than 200 small business loans.
2) What was the personal motivation for you to launch your firm?
I wanted to make finance more inclusive, and prove that you can do good and earn more. We quickly discovered that there are billions of dollars sitting in low-to-no yield accounts that can easily generate a better return and be mobilized help close the wealth gap and fight poverty.
3) As a female entrepreneur, do you feel any advantages/disadvantages in being female as you are seeking capital to grow & building your business?
There has been a lot of commentary on this topic already, so I won’t belabor the point. As a female entrepreneur, it is good to call out implicit bias when you see it, but it is even better to prove it wrong.
4) Do you feel you are at a competitive advantage – or disadvantage – as a female fintech entrepreneur – or neither?
In finance, as in other male-dominated industries, female entrepreneurs often have to overcome more hurdles. I sometimes feel that I have to prove I can not only run a business but that I know finance (something I’ve been doing for over a decade) as well, which is strange given recent evidence to suggest women are better risk managers, investors, and accountants. Go figure!
5) Do you feel there are more women starting financial technology companies than in other business sectors? If so, why or why not?
No, no and no! Finance is generally dominated by men, so it is quite natural that fintech is no different. But that must change. We need more women in the space. Women are controlling majority of investable assets, they are looking for financial products and services that “fit” them – isn’t natural to bring women into the “design” process to serve women investors better?
6) Do you think the trend will continue where we will see more women in leadership roles in fintechs (Yes/No) and why?
I hope so. I believe inclusion shift and not an overnight change. It starts from how we raise our daughters and sons and what example we set for them. Women are taking over consumer spending and creating/inheriting more wealth – businesses would be silly to ignore that fact and rely solely on men to define the future. We’ve reached a point both socially and pragmatically where having women at that table becomes not a “nice” thing to do but a “smart” thing to do.
Yuliya has over a decade of experience on Wall Street and has developed financial products on 3 continents. Her expertise is concentrated in product development and risk management in both traditional and alternative finance.