Scout provides a unified financial operations platform for collegiate athletic departments managing budgeting, roster planning, and payment processing. The system automates compliance workflows for institutional payments while offering athletes tools for NIL income management and financial literacy. This integrated approach ensures schools maintain airtight compliance and athletes build sustainable financial habits.
Funding
$4.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Student-athletes often lack the financial literacy and resources needed to manage their finances effectively, especially with the emergence of Name, Image, and Likeness (NIL) opportunities. This can lead to poor financial decisions, difficulty managing new income streams, and a lack of long-term financial planning.
Solution
Scout provides a mobile financial planning platform designed to empower student-athletes with the tools and knowledge necessary to navigate the complexities of NIL and personal finance. The platform offers personalized financial education, on-demand access to financial coaching, and investment management services. By combining educational resources with practical tools, Scout enables athletes to make informed financial decisions, manage their income, and plan for their future. The platform aims to bridge the gap in financial literacy and provide a comprehensive solution for student-athletes in the evolving landscape of college athletics.
Target Audience
The primary target audience is student-athletes at colleges and universities, as well as athletic departments seeking to provide financial wellness resources to their athletes.
Features
- Mobile app providing 24/7 access to financial planning tools and resources
- Personalized financial education sessions tailored to the needs of student-athletes
- On-demand access to financial coaching for real-time support and guidance
- Investment management services provided by SEC-registered investment advisor ELV8 Inc.
- Tax check-ins to help athletes stay on top of their tax withholdings
- Future value projection and financial planning tools