[Photo: Killer Mike, Andrew Young, Ryan Glover via bankgreenwood.com]
Greenwood, the digital banking platform introduced last year by co-founders activist/rapper Michael “Killer Mike” Render and Bounce TV President Ryan Glover, has raised almost $40 million in Series A funding since its website launched in October 2020, according to a joint announcement last week.
The burgeoning financial startup — named for the Black business district in Tulsa, Oklahoma that existed in the early 20th century (before the 1921 Tulsa Massacre) and earned the nickname “Black Wall Street” — received investments from Truist Bank, Bank of America and JPMorgan Chase, PNC, Wells Fargo, Mastercard, Visa, and SoftBank, six of the seven biggest banks among others on a growing list of major financial institutions now invested in Greenwood.
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“The net worth of a typical white family is nearly ten times greater than that of a Black family and eight times greater than that of a Latino family. This wealth gap is a curable injustice that requires collaboration,” said Greenwood Chairman Glover.
“I am elated that many of the world’s top fintech companies have invested in Greenwood and join us in this mission. The backing of six of the top seven banks and the two largest payment technology companies is a testament to the contemporary influence of the Black and Latino community. We now are even better positioned to deliver the world-class services our customers deserve.”
Greenwood delayed its planned January 2021 launch date because of overwhelming demand after more than 500,000 people signed up for an account before launch.
To learn more and join the Greenwood community and product waitlist, visit www.bankgreenwood.com.