Getting to Know Asha Farrah
What was the defining moment, story, or person that inspired you to pursue entrepreneurship?
My story of entrepreneurship is deeply personal. At age 21, I found myself impacted by the crippling student loan crisis. As an HBCU alumni, I was faced with the daunting reality of substantial student loan debt nearing $100k. I became resolute in finding a solution to not only alleviate my own burden but also to assist others grappling with a similar challenge.
In 2018, I developed Reducify’s student loan acceleration method. Both my co-founder and I worked together as accountability partners to address our student loan debt. Working together, we set student loan goals and established timeframes that held us accountable. We successfully paid off $130,000 of student loan debt in 2.5 years beating the average payback time of 20-40 years.
I knew I could replicate my success for others specifically those who were disproportionately impacted by student loan debt. That desire of grit and determination turned my wheels of entrepreneurship.
What do you enjoy most about being a founder?
I enjoy having found my purpose in the world that I know will greatly impact underserved communities that need it most. That feeling is invigorating and motivating.
If you could go back to the beginning of your entrepreneurial journey, what is one piece of advice you would give to your past self?
I would tell myself that I was chosen for this purposeful work and I already have the tools in my toolbox to execute it.
Want to learn more about Asha Farrah and Reducify? Discover more about Asha Farrah and Reducity at reducifyapp.com Interested in the Camelback Ventures Fellowship Program? Learn more here.
Living Camelback’s Core Values
Tell us about an experience that exemplifies one of Camelback’s core values.
“Belief in Mission + Values”: I have stayed dedicated to Reducify’s mission and vision by remaining steadfast in my commitment to serving underserved student loan borrowers, even when faced with pressure to pivot. Numerous investors have tried to steer me toward more profitable or less challenging demographics, but I’ve held firm in prioritizing African Americans and women communities disproportionately impacted by student debt. My unwavering dedication demonstrates my belief that meaningful social impact and financial innovation can coexist, reinforcing Reducify’s mission to drive equity and transformative change in student loan debt repayment.
Looking Ahead: The Next 10 Years
What is your vision for your venture over the next ten years?
I see Reducify evolving as a student loan repayment tool for all graduating student loan borrowers accessible through the Department of Education. I look forward to hearing the success stories of Reducify users who can achieve other financial milestones and financial freedom they wouldn’t otherwise attain as a result of being student loan debt-free!
Inspiration and Self-Care
What’s your favorite book or podcast that you draw inspiration from?
I love the book “On Her Ground” by A’lelia Bundles. I am inspired by Madame CJ Walker’s life and achievements.
How do you balance the demands of entrepreneurship and life?
I prioritize self care through prioritizing joy every single day and enjoying my hobbies such as snorkeling, tennis, and travel.
The Camelback Ventures Fellowship
Since 2015, Camelback Ventures has championed underestimated entrepreneurs, investing over $10 million in ventures designed to create lasting societal shifts. Backed by leading philanthropic partners including Bloomberg Philanthropies and the Walton Family Foundation, the organization continues to prioritize fairness and representation in innovation.
You can learn more about the Camelback Ventures’ Fellowship and meet past fellows. Camelback Ventures’ next fellowship application is now open through April 7, 2025. Interested in joining our next fellowship cohort? Apply today!
