Greenwood, an Atlanta, GA-based provider of a digital banking platform for Black and Latino individuals and businesses, raised $45M in funding.
The round was led by Pendulum, with participation from Cercano Management, Cohen Circle, The George Kaiser Family Foundation, NextEra Energy, Bank of America, Citi Ventures, PNC, Popular, Truist Ventures, TTV Capital, and Wells Fargo.
The company intends to use the funds to expand operations and its business reach, as well as to extend its product offerings.
Led by CEO Robbie Robinson, Greenwood aims to support financial freedom for minorities through community building, career advancement, and financial services. The company’s flagship product is a digital banking service provided by partnering with FDIC-insured banks. It also offers The Gathering Spot, a private membership network, and Valence, a career development and job recruiting platform.
Greenwood today also announces Elevate, a new membership to provide an all-access pass which provides access to The Gathering Spot’s private membership network with physical clubhouses in Atlanta, Washington D.C., and Los Angeles, and to Valence’s professional networking platform and access to tens of thousands of job listings through the recruiting database. Elevate also offers a range of invitation-only events and experiences, including A3C Festival – one of the country’s premier music, tech, and culture festivals which is held annually in Atlanta. It includes other benefits such as luxury travel amenities, access to Priority Pass lounges, and concierge services.
Greenwood’s combined community across Greenwood, The Gathering Spot, A3C and Valence is over 1 million people and Greenwood’s banking platform already has more than 100,000 customers.