REEL founder Daniela Corrente (photo courtesy of
EWDD provided $350,000 in Community Development Block Grant funding to Grid110, a 501c3 clean technology start-up incubator that provides services to micro-enterprises to mobilize economic development in downtown Los Angeles.

Grid110 supports startups during the most critical state of their growth cycle by connecting them to mentors, access to capital, office space and other resources.

“REEL”, co-founded by Daniela Corrente in 2016, helps customers save a little every day to buy the products they love. Via the REEL platform, customers “save-to-buy” mostly for fashion items, from an Apple watch to a Gucci handbag. The company offers a solution for young people to make purchases while avoiding unnecessary debt.

REEL was selected as a participant in a Grid110 Residency Program, a three-month residency program that provides participants support with customer acquisition/growth, financial modeling, business plans, hiring and pitching. The program allows participants to focus on day-to-day business operations, while receiving critical support where needed.

REEL recently raised more than $1 million in funding, an effort that earned its founder Daniela Corrente recognition on a list of 50 Latina founders who have raised more than $1M by “Medium,” an online site that taps into the brains of the world’s most insightful writers, thinkers, and storytellers on topics that matter including technology.

With the support of Grid110, Reel has celebrated many successes and was named a Rising Startup by Techweek.

This story is part of the EWDD UPDATES from the week of 6/18/2018. Read this issue and more.