Phaedra Ellis-Lamkins is the powerhouse behind the billion-dollar startup, Promise, which is revolutionizing the way municipalities and utilities collect unpaid bills. With a focus on helping those struggling financially, Ellis-Lamkins has built Promise into a $520 million company by offering zero-interest payment plans to those in need.
What sets Promise apart is that it is not a charity or a nonprofit, but a fast-growing, venture-backed company. Ellis-Lamkins, a 48-year-old Black woman who has experienced financial hardship herself, is determined to prove that a successful business can be created without exploiting others. Her background as a labor organizer, nonprofit executive, and even Prince’s business advisor has shaped her vision for a kinder, gentler approach to bill collection.
“We’re all trying to use capitalism to do things we believe in,” says Ellis-Lamkins. Her mission is to help people keep the lights on and pay their bills with dignity and respect.
Forbes recently featured Ellis-Lamkins and Promise in an article that delves deeper into her story and the company’s mission. With a focus on entrepreneurship, wealth, technology, business, and lifestyle, Forbes continues to highlight innovative companies and leaders like Ellis-Lamkins who are making a difference in the world.
As we navigate a changing economic landscape, companies like Promise are paving the way for a more compassionate approach to financial solutions. Ellis-Lamkins’ commitment to helping others shows that success and empathy can go hand in hand in the business world.
Watch the video by Forbes
Video “This Next Billion-Dollar Startup Founder Is Helping People Pay Their Bills” was uploaded on 08/16/2024 to Dailymotion Channel Forbes