Nyca Partners, a venture capital firm, led a $50m Series B round in Propel, a mobile app that allows users to track their food stamps, government benefits and cash balances without having to call a 1-800 number or consult a government website, with participation from JPMorgan Chase, Salesforce Ventures and Andreessen Horowitz. “If you look at financial services for poor people, in many cases, they're a rip off. Propel shows that it doesn't have to be like that, but you have to be very good at avoiding people who are going to use the card fraudulently, at managing all your costs, but also at creating very good experiences. And it takes really good software to do that,” Hans Morris, Nyca Partners Managing Partner.