Adro COO Selected for Nasdaq Entrepreneurial Center Program, Highlighting Fintech's Role in Financial Inclusion

The selection of Sara Schmitt, Chief Operating Officer and co-founder of Adro, for the Nasdaq Entrepreneurial Center's Milestone Makers Fall 2024 cohort underscores the growing significance of fintech solutions targeting financial inclusion for specific demographics, particularly international newcomers to the United States. This prestigious, highly selective program supports founders whose companies align with the United Nations' 17 sustainable development goals, providing participants with personalized mentorship and resources over 12 weeks to achieve critical business milestones, culminating in a graduation ceremony in New York City's Times Square.

Schmitt expressed enthusiasm for the opportunity, highlighting the value of the Nasdaq network's reach and experience in guiding founders. Her selection validates Adro's innovative approach to addressing a significant market gap. International students and workers often face substantial challenges accessing traditional financial services upon arrival in the U.S. Adro's recent launch of no-fee checking, savings, and credit card products specifically for this demographic directly tackles this issue, aligning with the company's core mission of providing financial access and support.

The recognition through the Milestone Makers program signals a broader acknowledgment of financial inclusion as a crucial component of sustainable development and global economic integration. As global mobility increases, the role of companies like Adro in facilitating seamless integration into the U.S. financial system becomes more vital. The program's mentorship and resources are poised to be instrumental in helping Adro refine its strategies and scale its impact. This potential for growth is further supported by the company's recent trajectory, including raising a $1.5M pre-seed round and participation in other accelerator programs like the Hudson Valley Venture Hub Accelerator at SUNY New Paltz.

Adro's progress and Schmitt's background, which includes nearly a decade at Epic, an MBA from Cornell University, and experience at Amazon, contribute to a strong foundation for this next phase. The company is also a graduate of Westchester County's Element 46 Tech Accelerator and a member of NAFSA, demonstrating ongoing commitment to industry engagement. The focus on international students and workers represents a targeted application of fintech innovation to a real-world problem, moving beyond generic financial products to serve a community with distinct needs during a critical transition period.

Ultimately, this development matters because it highlights a shift towards recognizing and supporting business models that combine commercial viability with social impact. Adro's participation in the Milestone Makers program not only provides a platform for the company's growth but also amplifies the conversation around the necessity of inclusive financial systems in an increasingly mobile world. The implications extend beyond Adro's immediate customer base, suggesting a model for how technology can be leveraged to foster economic participation and stability for underserved groups, contributing to broader goals of equity and sustainable development.