When was Propel founded?

Propel was founded in 2014 and raised its 1st funding round 1 year after it was founded.

Where is Propel located?

Propel is headquartered in Brooklyn, United States. It is registered at Brooklyn, New York.

Who is the current CEO of Propel?

Jimmy Chen of Propel. They have also founded 1 company.

How many employees does Propel have?

As of Jan 05, 2026, the latest employee count at Propel is 118.

Is Propel a funded company?

Propel is a funded company, having raised a total of $68.3M across 6 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on Mar 10, 2015.

When was the latest funding round of Propel?

Propel's latest funding was a $***** Grant (prize money) round on Aug 29, 2024, with participation from 1 investor.

Where does Propel rank among its competitors?

Propel ranks 1st amongst 177 active competitors, of which 24 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Peppermint Innovation, which secured $1.48M in Mar, 2026.

Who are the top competitors of Propel?

Propel's top competitors include Flybits, Tagit and Valpak. Among them, Peppermint Innovation secured the most recent funding round in March, 2026.

Propel - 2026 Company Profile, Team, Funding & Competitors

Company Details

A mobile banking and EBT (Electronic Benefits Transfer) app that provides financial assistance and support. It is a fintech company that focuses on providing financial services and benefits management solutions to individuals and families. The company's mobile app offers a range of services including EBT card management, benefits updates, and financial education tools.

Website: www.propel.app/
Social
Email ID: *****@propel.app
Phone Number: +1 **********
Registered Address: Brooklyn, New York

Key Metrics

Founded Year

2014

Location

Brooklyn, United States

Stage

Series B

Total Funding

$68.3M in 6 rounds

Latest Funding Round

Grant (prize money), Aug 29, 2024, $*****

Investors

Kleiner Perkins & 6 more

Ranked

1^st among 177 active competitors

Employee Count

118 as on Jan 05, 2026

Similar Companies

Flybits & 231 more

View Propel's full profile

Propel is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
PROPEL INC CIN: 471508947 , United States, Active	Dec 26, 999	-	100 (As on Dec 31, 2024)	-

Propel has raised a total funding of $68.3M over 6 rounds. Its first funding round was on Mar 10, 2015. Its latest funding round was a Grant (prize money) round on Aug 29, 2024 for $*****. 1 investor participated in its latest round. Propel has 7 institutional investors.

Here is the list of recent funding rounds of Propel:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 29, 2024	5813533	Grant (prize money)	9544392	5739014	9189555	4062402
Mar 08, 2022	6252069	Series B	3541262	4087979	2104713	Nyca Partners
Dec 15, 2018	3013568	Series A	9653954	1963436	5336267	Nyca Partners

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View details of Propel's funding rounds and investors

The founders of Propel are Shelly Ni, Ram Mehta and Jimmy Chen. Jimmy Chen is the CEO of Propel.

Here are the details of Propel's key team members:

Shelly Ni: Co-Founder of Propel and founder of 1 other company.
Ram Mehta: Co-Founder & CPO of Propel.
Jimmy Chen: Co-Founder & CEO of Propel.

View details of Propel's Founder profiles and Board Members

Propel's employee count trend

Propel has 118 employees as of Jan 26. Here is Propel's employee count trend over the years:

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Top competitors of Propel include Flybits, Tagit and Valpak. Here is the list of Top 10 competitors of Propel, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Propel 2014, Brooklyn (United States), Series B	A mobile banking and EBT (Electronic Benefits Transfer) app that provides financial assistance and support	$68.3M	Kleiner Perkins, Financial Solutions Lab & 5 others	74/100
2nd	Flybits 2013, Toronto (Canada), Series C	Banking channel for enterprises	$50M	Vodafone, Information Venture Partners & 17 others	64/100
3rd	Tagit 2004, Singapore (Singapore), Acquired	Provider of digital engagement solutions	$9M	SRA IP Solutions, JAM & 21 others	62/100
4th	Valpak 1968, St Petersburg (United States), Acquired	Online platform offering deals on multi-category grocery products	-	-	55/100
5th	Peppermint Innovation 2007, Perth (Australia), Public	Proprietary Mobile Banking Technology provider	-	Inclusive Fintech 50, CPS Capital Group & 1 others	51/100
6th	Voxeo 1999, Orlando (United States), Acquired	IVR and Customer Service Solutions PaaS	$39.1M	North Atlantic Capital, Florida Growth Capital ... & 3 others	46/100
7th	Healthy Savings 1999, Minneapolis (United States), Unfunded	Provider of discounts on grocery items at partnered stores	-	-	45/100
8th	Makeena 2014, Denver (United States), Seed	App-based platform offering cashback for grocery receipts	$43.8K	XRC Ventures, MassChallenge & 4 others	44/100
9th	Qumpara 2016, Istanbul (Turkey), Unfunded	Platform offering mobile application to earns rewards	-	-	43/100
10th	Longos 1956, Vaughan (Canada), Acquired	Online platform offering reward points on grocery shopping	-	-	42/100