Greenwood closes $3 million seed round to build online banking solution for Blacks and Latinx
Venture founded by Ambassador Andrew Young, Michael ‘Killer Mike’ Render and Ryan Glover
ATLANTA, October 8, 2020 – Greenwood has secured $3 million in seed funding from private investors as the first digital banking platform for Black and Latinx people and business owners. Greenwood features best-in-class online banking services and innovative ways of giving back to Black and Latinx causes and businesses.
Greenwood’s founders include:
- Andrew J. Young, civil rights legend, former U.S. Ambassador to the United Nations, and former Mayor of Atlanta
- Michael Render, aka Killer Mike, rapper and activist in Black financial empowerment
- Ryan Glover, Greenwood Chairman and founder of Bounce TV network
“It’s no secret that traditional banks have failed the Black and Latinx community,” said Ryan Glover. “We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities. This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community,” said Michael ‘Killer Mike’ Render. “Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood.”
Greenwood’s executive leadership includes:
- Aparicio Giddins, President & Chief Technology Officer (previously of Bank of America and TD Bank)
- David Tapscott, Chief Marketing Officer (previously of Green Dot and Combs Enterprises)
- Andrew “Bo” Young, III, Board Member (managing partner, Andrew Young Investment Group)
- Dr. Paul Judge, Board Member (co-founder of Pindrop and TechSquare Labs)
Learn more about Greenwood Bank
About Greenwood Bank
It’s no secret the current financial system has failed Black and Latinx communities. Our communities suffer from a lack of wealth, its recirculation, and generational transfer. That is why we created a new financial platform. A platform inspired by the early 1900’s Greenwood District, where recirculation of Black wealth occurred all day, every day, and where Black businesses thrived. Today’s Greenwood is a banking system developed by us, for us. This is our time. Join us now.
