HIBT Lab! mitú and SUMA Wealth: Beatriz Acevedo

How I Built This with Guy Raz

Guy Raz | Wondery

Business

4.8 • 31.1K Ratings

🗓️ 15 December 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was a love for Ricky Martin that started it all...

Beatriz Acevedo thought that if she could only become a DJ, she could get his attention and marry him. While marriage to Ricky was not in the cards, an illustrious career in radio, TV, and eventually digital media was. Beatriz is now a serial entrepreneur: her first venture, mitú, is published content for a growing young Latino market. Soon after selling mitú in 2020, she launched Suma Wealth to help young Latinos build wealth and navigate the complex American financial system.

This week on How I Built This Lab, Beatriz takes Guy on a journey through her career in media production and her more recent pivot to financial services. She also discusses the importance of a culture-first approach to serving Latino customers, and the interactive and educational approach her new company is taking to close the Latino wealth gap.

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Transcript

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0:00.0	Hey, Prime members, you can listen to how I built this early and ad-free on Amazon Music.
0:07.0	Download the app today.
0:09.0	When you leave home, can you ever really go back?
0:12.0	Made a version!
0:13.0	Soccer legend Leo Messi and I both left Argentina as kids.
0:17.0	You know you're that piece of a puzzle that doesn't fit anywhere.
0:20.0	To so many immigrants, football is a way to reconnect.
0:23.0	Listen to the last cop in the embedded podcast feed
0:26.0	to hear the latest collaboration from MPR and Fuduro Studios.
0:33.0	Hello and welcome to How I Built This Lab.
0:35.0	I'm Guy Raaz.
0:36.0	Americans with roots in Latin America account for more than 18% of the population.
0:42.0	And this year, the collective purchasing power of Latinos is estimated to hit $2.8 trillion.
0:49.0	And yet a significant number of young Latinos are considered underbanked.
0:54.0	Meaning they don't have easy access to financial institutions and things like savings accounts or loans.
1:00.0	So, Batre's Acevedo started a financial technology company to see if she could solve the problem.
1:06.0	It's called Suma Wealth and it was founded in the middle of the pandemic.
1:10.0	The platform offers up educational tools to help young Latinos figure out how to become financially literate.
1:16.0	Before she launched Suma, Batre's was the founder of Meet 2, a multi-channel media company
1:21.0	that was designed to serve Latinos in the US.
1:24.0	Batre's was born and raised mainly in Mexico and she got her start as a kid.
1:29.0	Co-hosting a show on her local radio station in Mexico City.
	...

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