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Robinhood is embarking on a journey into sports and entertainment and tagging this businessman for assistance. According to CNBC, the financial services company will join forces with Rich Paul’s Klutch Sports Group as it looks to expand its reach. “We’re massive sports fans at Robinhood and we know our customers are as well,” said Robinhood CEO Vlad Tenev to CNBC. “Working with Rich and the team at Klutch Sports, it’s really a way to get the Robinhood brand out there to a wider audience and partner with athletes and organizations that are aligned with our customer needs.” Launched in 2012, Klutch is home to many athletes, including LeBron James. Since its inception, the company has expanded its reach across teams, leagues, properties, and more. As previously reported by AFROTECH™, despite people saying that Klutch was a company that “wasn’t gonna last,” Paul confirmed that the business has negotiated more than $2 billion in deals. “I look forward to helping guide Robinhood as they...
Since its inception, Stackwell Capital — founded by Trevor Rozier-Byrd — has been on a mission to close the racial wealth gap. Now, it’s one step closer. Starting Sept. 21, users can access its robo-investing app, which will enhance their knowledge of the financial markets, according to a press release exclusively provided to AfroTech. Courtesy of Stackwell Capital The application will target Black Millennials and Generation Z Americans and aims to create better outcomes by enhancing their power and growing their wealth in the financial market.
Stackwell Capital is working steadfastly to ensure Black Millennials and Generation Z Americans have the tools to create generational wealth. As AfroTech previously told you, the novel application founded by Trevor Rozier-Byrd, will introduce users to educational resources and automated model portfolios. The platform is engineered to empower the community and eradicate misconceptions or fears surrounding wealth building. Rozier-Byrd last told AfroTech that Stackwell Capital was working to adopt new measures that would incorporate financial literacy into Black communities. Stackwell Capital has stayed true to its word. The company has closed a $3.5 million funding round led by Michael Gordon, President of Fenway Sports Group; Jeremy Sclar, CEO and Chairman of WS Development; and The Kraft Group. CMFG Ventures Discovery Fund, Shea Ventures, SSC Venture Partners, Shorehaven Wealth Partners, and Theo Epstein, a consultant to Major League Baseball, also participated in the round, among...
Seeing residents from your area and the community itself thrive is what majority of people dream for. However, what ultimately makes that dream a reality is being right at the frontline for change. It’s the premise for what Broccoli City has been building in being a part of raising awareness about sustainability in Black communities. Over ten years strong, the Black-owned social enterprise’s co-founders Brandon McEachern, Darryl Perkins, Jermon Williams, and Marcus Allen have brought over 20 million millennials and Gen Zers together for the cause of creating opportunities for progress through the heart of music, art, and social impact. The mission has birthed one of the nation’s biggest entertainment events: Broccoli City Festival. After briefly being placed on pause due to the pandemic, the Washington, D.C.-based music festival is back on May 7 and May 8 for its eighth annual event. Broccoli City Festival’s lineup features some of the DMV’s very own, including Wale, Ari Lennox, and...
Learning how to properly budget your income is one of the building blocks for attaining financial literacy. With keeping up with bills and unexpected expenses, it can become easy to slip onto a path of neglecting taking action in creating a game plan for monthly spending. Here are budgeting and saving apps led by Black founders that guide you to keep track of your coins.
More communities will have a pathway towards financial freedom. According to a press release, Wells Fargo and Operation HOPE, Inc. have partnered to support underserved households. Soon community members will have access to the HOPE Inside program which will provide access to financial coaches, financial education workshops, and free personal coaching. The resources will empower communities along their financial journey. “We know from our outreach and work with national and community stakeholders that financial education and guidance, and an individual’s sense of inclusion and trust, are all important factors in bringing more people who are unbanked into the formal banking system,” said Darlene Goins, head of Wells Fargo’s Banking Inclusion Initiative, according to a press release. “Working with Operation HOPE is one important way that we can remove barriers to financial inclusion and help empower people with education, resources and tools to manage their money, improve their credit...
After raising $5 million in funding, Parfait is on its way to disrupting the wig industry with the help of technology. The women-led startup is said to be the first to integrate facial recognition and artificial intelligence to provide buyers with customizable wig products. According to a press release sent to AfroTech, the seed round was spearheaded by Upfront Ventures and Serena Ventures. Ulu Ventures, Unshackled Ventures, Contrary Capital, Visible Hands, TRUE Capital’s Culture Fund, Omar Johnson, Chamillionaire, Tristan Walker, and Upland Workshop participated in the round. “Parfait’s mission to leverage Al to solve core issues for both the tech industry and communities of color is something we, at Serena Ventures, have believed in since the beginning,” said Serena Williams, Managing Partner at Serena Ventures, in a statement. “She went on to say “It’s been inspiring to witness their incredible achievements so far, and we’re proud to invest in this next phase of Parfait’s...