Killer Mike recently secured a major win for the 'Bank Black' movement by closing a $45 million investment round for his digital banking platform, Greenwood.
Investment advisory firm, Pendulum, led the round, while additional investors included Cercano Management, Cohen Circle, The George Kaiser Family Foundation, and NextEra Energy. Greenwood has also secured investments from Bank of America, Citi Ventures, PNC, Popular, Truist Ventures, TTV Capital, and Wells Fargo.
Greenwood, which caters to Black and Latino individuals and businesses, was founded by Killer Mike, Andrew Young, Dr. Paul Judge, and Ryan Glover. The company aims to shorten the wealth gap that negatively impacts Black and Latino Americans by supporting "financial freedom through community building, career advancement, and financial services."
The company reacted to the recent funding round and said the money "will accelerate Greenwood's vision of closing the racial wealth gap and providing the tools and education needed to empower the Black and Latino communities to build generational wealth."
Co-founder Ryan Glover added, "This investment and our new partnership with Pendulum demonstrate the power of the Black ecosystem and that when you Choose Black, you will not be underserved. Our vision is to make Greenwood the premier destination for Black and Latino wealth creation and regeneration while keeping community connection and collective professional advancement at the center."
Greenwood's banking platform currently has over 100,000 customers.
Source: Rock The Bells
