At Swell, the social impact that our holdings make is just as important as their financial performance. In the same way that we make it a priority to share our portfolios’ financial performances, we also like to share the steps our holdings are taking to make the world around them a better place.
Like all forces for change, the work doesn’t happen one time or overnight. It’s a series of small steps and achievements. Here are some of the recent highlights in our holdings’ exciting work for social change:
What is it?
PayPal is an online platform that allows users to make payments to online stores, as well as other people. It’s an electronic alternative to using checks, money orders, and it helps users to safeguard their financial information online.
PayPal has completely changed the way that we pay for purchases online and send money to friends. The power of PayPal comes from the flexibility of its platform, and PayPal is using that flexibility in order to offer financial services to underserved people. Currently, there are billions of people who are unbanked in the world. In America, there are an estimated 30 million people who are financially underserved. This leads them to rack up interest fees paying for alternative financial services – it can add up to 9.5% of their yearly income. To help these people, PayPal has rolled out the PayPal Cash Mastercard, which is free of fees and allows for increased flexibility for people who are unbanked. People who use the card can use it anywhere Mastercard is accepted, and they can also use it to withdraw cash. People who don’t use a bank can also choose to directly deposit their paycheck to PayPal, making it easier to get access to the money they’ve worked hard to earn.
What is it?
Etsy is a global marketplace where shoppers can browse products with a focus on vintage and handmade items and supplies from independent small business owners.
Wherever it goes, Etsy brings greater accessibility for small business owners. That’s why it’s so exciting when Etsy expands to a new market (Psst. It’s happening now!). Etsy has just announced that it is expanding into India, one of the largest growing markets in the world. It’ll give millions of small business owners access to a global market for their products!
What is it?
BYD is a tech company that works in industries related to electronics, automobiles, new energy, and rail transit.
Electric cars aren’t just for private citizens anymore. BYD is launching Seattle’s first electric refuse trucks. The trucks, which will be a first for the Pacific Northwest, will help to bring sustainable energy to Seattle’s solid waste collection. The electric trucks, which were ordered this month, are scheduled for delivery in early 2019.
For more news about the work each of our holdings is doing, check back soon. There’s always something new to celebrate!