Snappable

Snappable is a digital payment company serving grocery retailers and shoppers who receive food stamp benefits. Its software lets grocers accept and process Nutrition Incentive Benefits — funds available in addition to standard food stamp benefits for the purchase of nutritious food — at the point of sale. The product is downloaded onto a grocer's existing point-of-sale device rather than requiring new hardware, transactions are completed using only the shopper's phone number, and the system generates automated reports that grocers use to submit for reimbursement.

The company positions the platform as a "people-first government benefits payment system" and states an objective of becoming the industry standard payment solution for nutrition incentives. On its site, Snappable says the approach can raise grocer revenue from nutritious food by up to 25% and allows EBT shoppers to double their spending power for nutritious food.

Founding story

CEO Lulu Meza, a Columbia University graduate, previously built two food businesses — a farm and a food hub. While operating them she found that up to 80% of Nutrition Incentive Benefits available in addition to food stamps go unused each year, which led her to found Snappable to make those benefits easier for grocers to transact.

Business model

Software installed on grocers' existing point-of-sale devices that processes nutrition incentive benefit transactions and automates the reimbursement reporting grocers must file. Grocers are the signing customer; shoppers transact with a phone number.

Traction

Backing from NYCEDC and Visible Hands VC, and selection into Techstars, Company Ventures' City Fellowship, and Blue Ridge Labs' Catalyst Accelerator; the team is listed at 1-10 employees.

Latest developments

Participation in the 2023 Techstars Economic Mobility cohort powered by Samvid Ventures and the 2023 City Fellowship at Company Ventures.