CNote

Based in San Francisco, CNote is a financial technology platform founded in 2016 by Catherine Berman and Yuliya Tarasava that enables corporate treasury teams, foundations, and retail investors to direct capital into mission-driven community financial institutions. The Certified B Corporation facilitates cash and fixed-income allocations toward small business growth, affordable housing, and local development initiatives through a network of over 2,000 community banks and credit unions. By removing broker fees and account minimums, the platform allows users to support economic equality, racial justice, and climate change adaptation. The enterprise has raised approximately $15.5 million in total funding, including a $7.25 million Series A round led by the American Family Insurance Institute for Corporate and Social Impact. Additional financial backing comes from venture capital firms such as Astia Fund, BankTech Ventures, Commerce Ventures, and CityRock Venture Partners.

High-Level Overview

CNote is a women-led fintech platform founded in 2016 that connects investors and corporations with community development financial institutions (CDFIs), low-income designated (LID) credit unions, and minority deposit institutions (MDIs) to drive economic mobility, financial inclusion, and wealth gap closure.[1][2][3] Its mission centers on channeling capital into underserved communities—funding small businesses owned by women and people of color, affordable housing, and economic development—while delivering competitive financial returns through products like Impact Cash® (cash management), Climate Cash™, Flagship Fund, and Wisdom Fund (fixed-income investments).[1][2][4] CNote serves corporate treasury teams, institutions, and retail investors seeking to align ESG goals with performance, offering customized portfolios by region or impact theme (e.g., Black-led CDFIs or low-income women entrepreneurs) and quarterly quantitative impact reports.[1][4][5]

As a Certified B-Corporation and GIIRS-rated firm based in Oakland, California, CNote emphasizes a community-first framework, enabling treasury leaders to deploy high-dollar deposits scalably without added risk, supported by proprietary underwriting technology.[1][2][3]

Origin Story

CNote was co-founded in 2016 by Catherine "Cat" Berman (CEO) and Yuliya Tarasava (COO), both seasoned financial executives frustrated by products that widened wealth gaps rather than closing them.[1][2][3] Berman, a three-time entrepreneur and former Managing Director at Charles Schwab, specialized in innovative financial products; Tarasava, a structured finance expert, co-led a $10 billion risk management function and worked in international development.[3] The idea emerged from recognizing CDFIs' strong fundamentals in delivering outcomes like affordable housing and entrepreneur support, yet their inaccessibility to large-scale investors due to outdated processes.[1][3]

Early traction came from applying institutional-grade discipline and technology to this $5T community finance market, earning accolades like SXSW's "Top Innovation in Fintech" in 2017 and CB Insights' "most ground-breaking startup."[2] The firm evolved from connecting capital to CDFIs into a full platform with cash management and loan funds, scaling impact while maintaining rigorous risk management.[1][4]

Core Differentiators

• Technology-Driven Access: Proprietary underwriting system reduces time and cost to connect investors with vetted CDFIs, unlocking diversified, scalable community investments previously inaccessible to institutions and retail.[1][2][3]
• Customizable Impact Products: Offers tailored cash management (Impact Cash®, Climate Cash™) and fixed-income funds (Flagship, Wisdom) by theme/region, with competitive returns and 100% positive social impact via deposits/loans to mission-driven banks.[1][4][5]
• Measurable Transparency: Provides quarterly quantitative impact reports tracking economic mobility, plus secure platform for ESG-aligned treasury goals without added risk.[1][2][4]
• Women-Led Expertise: Diverse team of fintech operators, risk experts, and impact specialists delivers institutional rigor; free for credit unions via partnerships, attracting blue-chip depositors like Mastercard and PayPal.[3][5]

Role in the Broader Tech Landscape

CNote rides the surge in ESG and impact investing, where treasury teams face mandates for diversity, equity, inclusion, and community support amid $5T in overlooked community finance.[1][3] Timing aligns with post-2020 demands for authentic racial wealth gap closure and climate adaptation, amplified by corporate pressures for data-backed impact over performative initiatives.[1][2] Market forces like low-interest environments and fintech disruption favor its model, scaling capital to CDFIs/MDIs that fund underserved areas—e.g., women-led ventures, affordable housing—influencing the ecosystem by innovating underwriting, boosting credit union deposits, and proving tech can blend returns with equity.[2][4][5]

Quick Take & Future Outlook

CNote is poised to expand as impact investing matures, potentially deepening retail access, AI-enhanced underwriting, and climate-themed products amid rising regulatory ESG scrutiny and trillion-dollar sustainable finance flows.[1][2][4] Trends like corporate deposit growth via partnerships (e.g., CUNA) and Gen Z's values-driven investing will shape its trajectory, evolving influence from niche fintech to ecosystem scaler for inclusive capital markets.[3][5] This women-led platform, redefining treasury as a force for mobility, ties directly to its founding vision: technology unlocking proven community investments for a more equal economy.[1][3]