The League of Innovators has recognized Hutsy Financial founder Tefari Bailey as the Top Youth Entrepreneur Award winner. He also won the Youth Black Entrepreneur of the Year Award.

“Last night, I had the opportunity to celebrate with all the other winners in Toronto and be recognized in front of 500 founders, investors and startup partners that flew in from across Canada,” Bailey said in an Instagram post.

Hutsy Financial is a fintech company that offers an alternative to traditional banking. FINTRAC regulates it and provides a free pre-paid, reloadable card with a companion app to help you earn cash back, save, and track your finances.

Bailey said that when people need money, they have little choice but to turn to high-interest payday lending companies, which only worsens their debt. The app also offers a program for establishing credit.

View this post on Instagram

A post shared by Tefari Bailey (@tefaribailey)

Meanwhile, the League of Innovators is a national Canadian charity that empowers youth to be their bosses in life and careers. It offers accessible programs and education for entrepreneurs aged 15–30, from discovery through acceleration.

For the win, Bailey received two free round-trip flights to anywhere that Flair Airlines lands, thanks to the League of Innovators and its sponsors.

Upon winning the award, Bailey thanked his investors and congratulated other entrepreneurs present for their achievements.

This is the second time this year Bailey has received two awards. At the Startupfest 2023 awards in July, he won the Black Entrepreneur prize worth $100,000 and the Audience Choice Award, the latter of which was part of the Best Pitch competition as a Top 10 finalist.

“This win fuels my motivation to propel Hutsy even further, revolutionizing the financial industry through innovation,” Bailey said. “I’m excited to harness this momentum for our growth and continue to inspire other BIPOC founders.”

The Brock University grad burst onto the scene in 2019 when he appeared on an episode of CBC’s “Dragon’s Den” to pitch his fintech company. He convinced Wes Hall, founder of Kingsdale Advisors and We Shall Investments, to give him $500,000 to scale his business. Since then, he has received support from companies like The Drive Group Inc., The Tribe Network, the Black Founders Network, and Capital M Ventures.

View this post on Instagram

A post shared by Tefari Bailey (@tefaribailey)