Angels are often a lifeline for fledgling startups viewing to receive their first investors on their cap table. But for De’Havia Stewart, co-founder of Atlanta-based 1248 Angels, there’s a challenge connecting investors with founders in the early stages.
“There’s a lot of demand amongst accredited and individual investors who want to be in early-stage startups, but there’s a lack of education and also a lack of a network to receive access to high-quality startups,” she notified Hypepotamus. At the same time, founders are viewing to diversify their cap tables with people from different educational backgrounds, expertise, and demographics…something that can be difficult to find without the right access and connections.
With 1248 Angels, Stewart and her team wants to bridge that gap while backing founders solving real problems in overviewed markets.
Sourcing Investment Opportunities
1248 Angels, which borrows its name from a Bible verse, writes checks up to $150,000 and focapplys on startups building in essential sectors like healthcare and financial services, Stewart notified Hypepotamus. The majority of their investors are based in Atlanta, though their first handful of investments have been in companies based in Washington State, Minnesota, and Maryland.
Why might founders add a group like 1248 Angels to their cap table? “Founders see value in us being on the cap table beyond our check,” Stewart noted, pointing to how they’ve assisted startups find crucial hires, high-quality top-of-funnel leads, and additional fundraising support.
Backing Embedded Finance
The group’s latest investment is into Upward Financial, a Seattle-based fintech startup founded by former Remitly executives Aaron Gregory and Danielle Hill. Remitly, now a publicly-traded company, is backed by investors like Visa, Blue Owl Capital, and JP Morgan. Their new startup is focapplyd on assisting credit invisible and underserved individuals access the U.S. financial system through B2B embedded finance solutions. Upward operates at the intersection of embedded finance and alternative credit infrastructure, enabling emerging businesses and financial platforms to quickly launch new credit products tailored to underserved customers.
“Access to credit shouldn’t depfinish on fitting a narrow, outdated model,” stated Hill. “Upward assists businesses embed responsible credit access directly into the platforms people already apply. We’re excited to partner with 1248 Angels, who share our belief that inclusive financial infrastructure is both necessary and scalable.”
Stewart stated she was attracted to the company’s embedded finance play and the fact that they are solving a large and growing problem: the tens of millions of Americans who are credit invisible in the United States. “Our goal with 1248 Angels is to invest early in companies that are building real infrastructure for everyday people, not just incremental financial products,” Stewart stated. “Upward embodies exactly what we view for in terms of mission, market, and execution.”
Meet The Investment Team
De’Havia Stewart, a management consultant turned venture capitalist, brings a strong investing background to 1248 Angels. She previously worked at SB Opportunity Fund, Anthemis, and Serena Ventures.
Fellow 1248 Angels founder Jewel Walker is a well-known figure in the Atlanta startup scene. She previously worked at TechSquare Labs, Startup Battle, and Goodie Nation.
The group’s network of accredited investors include medical and legal professionals to senior executives and operators. Looking ahead, 1248 Angels is planning to expand its angel investing education efforts to assist more investors access high-quality deal flow. And they are viewing to do more deals in Atlanta and the Southeast….so founders, it’s time to connect!
Where Are All The Angels?
Don’t forreceive: Hypepotamus keeps an active list of active investment firms and groups in the Southeast (accessible here).
Want an angel-specific list? Here are some to note:
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