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There has been an update on the dispute between The Gathering Spot and Greenwood.
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.
If you want to learn how to build a tech company, come to Greenwood! The Black-led and founded tech-enabled digital banking platform was built solely with Black people, Latinos, and true allies of the culture in mind. Now, the mission continues by offering the community the resources needed to build their own empire. In an all-new series, “The Making Of A Black Tech Company,” the platform is providing a firsthand look into how we all can play a role in bridging access and wealth gaps through financial solutions. Throughout the show, viewers will learn more about the company’s special approach to building a company rooted in tech. They will also hear directly from the company’s leaders and a few familiar celebrity faces who have invested not only funds but time and energy into Greenwood since its inception.
Your paycheck helps you live, but accumulating wealth takes more than a steady 9 to 5 with a nice salary. The average millionaire has seven streams of income. Rather than solely earning a salary from a single occupation, financial prosperity is generated by multiple investments that earn money without requiring active work, also known as passive income. If you’ve ever heard someone say, “it takes money to make money,” or something along the lines of, “rich people make money in their sleep,” you’ve heard about passive income. Take a look at the first Black female and male musicians to reach billionaire status, Rihanna and Jay-Z. Rihanna went nearly bankrupt then grew a $600 million net worth. The majority of Jay-Z’s income is the result of smart investments and business ventures, such as clothing lines, sports teams, music streaming and restaurants. The path to wealth building is rarely that straightforward, however. The racial wealth gap offers some proof. According to the 2019...
Greenwood takes it up a notch! The digital banking platform made specifically with Black and Latino people and business owners in mind has announced that it has decided to partner with Mastercard as its network of choice for the bank’s first debit card. According to PR Newswire, the matte black debit Mastercard will give its cardholders a digital-centric experience along with an extensive list of security and concierge benefits. The card will also include innovative giveback programs with a focus on supporting both Black and Latino causes and businesses. Together the companies will deliver an Enhanced Mastercard® debit program which will provide all members financial protections and management services that include credit monitoring and transaction alerts as well as ID Theft Protection™, emergency card replacement, Mastercard Airport Concierge™, and access to once-in-a-lifetime exclusive Priceless offers and experiences. “As Greenwood works toward bringing practical products to...
Greenwood has made more strides toward becoming the biggest digital banking platform for Black and Latinx individuals and business owners. On March 25, the platform announced it has closed a $40 million Series A funding round. The round included participation from six of the seven largest banks in the U.S. along with Bank of America, PNC, Mastercard, Truist, Wells Fargo, and Visa, reports PR Newswire. The group is joined by Popular, the largest Hispanic-owned bank in the U.S.; venture capital firms TTV Capital, the SoftBank Group Corp’s SB Opportunity Fund, Lightspeed Venture Partners, and FIS, a leading provider of technology solutions for banks, capital markets firms, and merchants globally. Other groups include sports and entertainment names like Quality Ventures, the private equity arm of the sports media corporation, Quality Control, and All-Pro NFL running back Alvin Kamara. View this post on Instagram A post shared by Greenwood (@bankgreenwood) “The net worth of a typical...
Successful entrepreneur and go-getter Ryan Glover has always been excited about the entertainment industry despite his inability to rap, sing, or dance. For him, it has always been from a business perspective. Using his passion for entertainment, specifically music from all over the country, Glover began to build his resume right in Washington, D.C. at Howard University. “I saw the energy being created all over and thought it would be an amazing idea to bring that energy to Washington D.C. onto Howard’s campus,” he tells Black Tech Green Money host Will Lucas. For Glover, Howard was more than just a learning experience. It was a place where he not only learned from other cultures and people from all over the world but began to form the very relationships that he says have helped him to remain successful across multiple industries. “It was actually these very relationships that helped me to build my first business,” he said. “They were garnered right on Howard’s campus.” Glover is a...