Ventures owned by one of America’s youngest digital bank owners Sheena Allen

Feyisayo Ajayi -

Sheena Allen, a 35-year-old visionary entrepreneur and leading figure in the fintech ecosystem, ranks as one of America’s youngest digital bank owners. Her impact resonates through CapWay, a groundbreaking fintech startup aimed at serving overlooked communities in the financial world.

Hailing from a small Mississippi town with limited banking options, Allen’s journey began at the University of Southern Mississippi, where she not only studied Psychology but also launched her first tech venture, Sheena Allen Apps. Through sheer determination, she amassed millions of app downloads, showcasing her dedication to bridging financial gaps.

Transitioning to CapWay in 2019, Allen solidified her status as a trailblazer, focusing on inclusive financial solutions spanning banking and payments. Beyond CapWay, Allen spearheads Phocal, a parent company of various social enterprise endeavors aimed at providing innovative financial solutions for the unbanked population.

Allen’s influence extends beyond tech, with appearances in documentaries like “She Started It” and Google’s Black Women in Tech series. She authored “The Starting Guide,” sharing her journey as a non-technical founder and offering valuable business insights.

Recognized by prestigious publications, Allen has earned accolades such as Forbes’ 30 Under 30 and Inc. Magazine’s 30 Under 30. Her contributions have been honored with the Maggie Lena Walker’s Emerging Leader Award in 2021, highlighting her commitment to equitable financial opportunities and entrepreneurship.

Billionaires.Africa showcases five companies founded or partly owned by Allen, reflecting her strategic brilliance and unwavering dedication to driving digital transformation and positive change in technology for future generations

  1. Phocal
    Phocal, the parent company, oversees a dynamic portfolio of Allen’s innovative ventures, aiming to reshape industries and empower individuals. Notably, one of its subsidiaries, CapWay, disrupts the financial landscape by fostering inclusion and expanding access to financial services for all. Additionally, Sheena Allen Apps, a pioneering tech startup, emerged under Phocal’s umbrella, highlighting the company’s commitment to fostering entrepreneurship and driving digital innovation.
  1. CapWay
    As the Founder and CEO of CapWay, a financial technology startup based in Atlanta, Georgia, Allen leads a team dedicated to providing a comprehensive technology platform. Established in 2016, CapWay offers a suite of services, including full financial literacy modules, mobile banking, and deposits, with a focus on accessibility and empowerment.
  1. Sheena Allen Apps
    Allen’s journey began during her college years at the University of Southern Mississippi, where she initiated her first tech venture, Sheena Allen Apps. Through bootstrapping, her innovative apps garnered millions of downloads, reflecting her dedication to digital entrepreneurship and user-centric design.
  1. AppItOut
    Launched by Allen, AppItOut swiftly gained popularity as a guiding platform for non-technical individuals and early coders to create mobile apps. Within weeks of its launch, the app became a go-to resource for learning app development, showcasing Allen’s commitment to democratizing tech education.
  1. Picslit
    Driven by creativity and strategic thinking, Allen’s suite of six apps has amassed more than 2 million downloads collectively. Among them, Picslit stands out, allowing Instagram users to craft picture puzzles and explore new dimensions of digital expression.