Since its launch, Greenwood has prioritized Black and Latinx individuals and business owners through its banking services. Now, the biggest and Black-owned digital banking platform is looking to further support the community with its latest acquisition.

According to a press release, Greenwood has acquired The Gathering Spot — a private members-only club for Black professionals.

The Acquisition

Under the unified mission of leading minorities to financial freedom, Greenwood and The Gathering Spot aim for the new partnership to “continue to deliver features including community building, personal finance content, and banking services.”

Along with the announcement of the acquisition, it was revealed that Ryan Wilson — Co-founder and CEO of The Gathering Spot — will hold the title of Chief Community Officer of Greenwood. Fellow co-founder and COO of the club, TK Petersen, will serve as Vice President at the digital banking platform.

“The Gathering Spot prides itself on building an intentional community, one where we can celebrate each member and connect them to the resources and networks they need to build on their successes,” said Wilson in a statement. “Joining with Greenwood is a commitment to our community, and we share Greenwood’s vision in empowering people and helping them to build opportunity and generational wealth.”

The Mission At Hand

There is power in numbers as the collaboration of the two Black-owned companies has created a community of over one million people, who will now have greater access to taking necessary steps toward financial wellness.

As of now, Greenwood has tens of thousands of account holders and is currently onboarding a waitlist of over 700,000 people while The Gathering Spot has over 12,000 diverse members including executives, entrepreneurs, entertainers, creatives, and more, per the press release.

“Minorities continue to face a lack of financial inclusion and tools. Both Greenwood and The Gathering Spot have been leading conversations on access to capital and the power of minority financial inclusion. This moment marks a significant milestone for the culture and strength within the community,” said Ryan Glover, Co-founder & Chairman at Greenwood. “The combined efforts of Greenwood and The Gathering Spot will expand the collective power of minorities to impact the wealth gap.”

What The Gathering Spot Offers

Since its inception, The Gathering Spot has become one of the most sought-after clubs for Black professionals to connect. Members of the community have access to exclusive in-person events and content. While its flagship clubs are currently located in major cities including Atlanta, Washington D.C., and Los Angeles, its spaces feature a workspace, event space, restaurant, bar, plus meeting rooms.