(image from hcz.org)
Harlem Children’s Zone (HCZ) in New York City has acquired Goalsetter, a financial technology platform that delivers technology-enabled learning experiences for people seeking to enhance their financial know-how, capabilities, and confidence.
Terms of the deal were not disclosed. Services to current Goalsetter clients will be unaffected by the acquisition, according to an announcement of the deal.
The organization plans to build upon Goalsetter’s existing offerings by exploring financial education products for younger learners and creating opportunities to establish a continuous financial learning journey from early childhood through adulthood.
The acquisition marks a significant step in HCZ’s Wealth Builds–Universal Economic Mobility (WB-UEM) strategy, a national framework designed to help children and families build long-term economic security through cradle-to-career supports, financial education and experiences, and direct access to capital via a Child Capital Stack of asset boosts.
“We know that economic mobility is a two-generation challenge,” HCZ CEO Kwame Owusu-Kesse said via a statement. “With this acquisition, we are solving for a critical component of Universal Economic Mobility by melding a proven financial education platform and HCZ’s decades of experience providing people with the knowledge and tools to build strong futures for themselves and their families. This is more than an investment in financial education. It is an investment in critical national infrastructure for economic mobility.”
HCZ was founded Geoffrey Canada in 1990 as a one-block pilot, expanding to more than 100 blocks in Central Harlem, and now working with at least 70 communities across the United States, according to an announcement from HCZ. Canada remains HCZ’s president.
“Goalsetter was built on the belief that everyone should have access to the financial knowledge and tools that can shape their future and livelihood,” Tanya Van Court, chief fintech officer at HCZ and founder of Goalsetter, said via a statement. “Joining Harlem Children’s Zone gives us an extraordinary opportunity to build on that work. Together, we can continue enhancing the platform, expand access for learners of all ages and walks of life, and demonstrate what is possible when mission, innovation, and technology come together to serve the most people.”
The acquisition sends an important signal to the field, according to Owusu-Kesse. “Social impact organizations should not have to choose between mission and scale. By bringing a proven technology platform into HCZ, we’re demonstrating how non-profit organizations can be centers of business excellence, using vehicles of innovation, AI, and technology to create efficient and effective pathways to scale and impact. This acquisition strengthens our in-house capacity to build, innovate, and continuously improve outcomes.”
