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Aisha “Pinky” Cole is about her business, and she is paving the way for the next entrepreneurs to create their own empires. As AfroTech just told you, the founder and CEO of the Slutty Vegan franchise blessed the entire 2022 graduating class at Clark Atlanta University with Limited Liability Companies (LLCs). Already, recipients of the generous contributions have gotten their LLCs off the ground and running in less than three weeks. “When I graduated, I did not have a plan, but these people graduated with a plan. Now, it’s about how they executed that plan, and I’m looking forward to more entrepreneurs from that class of students who have gotten their LLCs to do something big and create that multimillion-dollar business, just like I did. If I can do it as a girl from East Baltimore from around the way and who comes from humble beginnings, I know every single one of them can too,” Cole told AfroTech in an exclusive interview.
Slutty Vegan’s Pinky Cole is on a mission to break down financial barriers and help the Atlanta, GA community achieve financial wealth! No stranger to breaking barriers, Pinky Cole knows what it means to achieve success by her measures, which is why she didn’t let anything get in between the launch of her vegan restaurant, Slutty Vegan. To date, she has gained a national following through the food chain and has hopes to help others reach identical pinnacles of success. Together with the nation’s only all-digital bank, Varo — Cole will launch a community giveback program to provide Atlantans with a brighter future equipped with a financial gain during the holiday season. “Pink Cole embodies our values and spirit of innovation at Varo,” said Varo Founder and CEO Colin Walsh in an official press release shared with AfroTech. “She is a tremendous force for good and we could now think of a more impactful community leader and gamechanger to partner with. We were proud to celebrate her...
The first all-digital nationally chartered bank in the U.S. just added to its board. According to a press release, Roy Swan will join Varo Bank’s Board of Directors bringing over 30 years of expertise in banking, community development, impact investing, and philanthropy across a number of leading organizations and institutions. Varo looks to accelerate its direct community action and social impact programming in support of financial inclusion and opportunity for all in the latest appointment. “Banking and finance are key components of the long-term solutions to issues of racial equity and social justice,” said Swan in a news release. “I am thrilled to be joining Varo’s Board to continue to advance its impact mission and ensure Varo is an agent of structural change in the US banking system.” Currently, Swan serves as the Director of Mission Investments at the Ford Foundation where he manages a portfolio of impact investments for one of the world’s leading philanthropic foundations....
NBA superstar Russell Westbrook is proving he’s a superstar both on and off the court. The Washington Wizards point guard has announced, via TechCrunch, that he’s led the latest $63 million funding round for Varo Bank, a neo-bank that is one of the first to be granted a national bank charter. Westbrook will also join its advisory board with his investment in efforts to provide guidance when it comes to Varo Bank’s programs geared toward underserved communities. Warburg Pincus, The Rise Fund, Gallatin Point Capital, HarbourVest Partners, and funds managed by BlackRock are the neo-bank’s existing partners, and they’ve also joined this latest funding round, as well. This latest funding round puts Varo Bank’s total funding at a whopping $482.4 million. Varo Bank offers an easily accessible bank account with no monthly fees or minimum balance requirements, and a modern mobile app experience. It also includes high-interest savings and provides customers with access to a network of 55,000...
Raven B. Varona is known for capturing some of the best sides of our faves in the industry. However, this time she’s getting a bit more personal by capturing the real stars in her life, people in her home city — The Bronx. Her virtual art gallery titled “And The B is For” is Raven’s personal love letter to the city that raised her and the everyday people who have always been essential to her life, long before COVID-19 deemed what it meant to be an essential worker. And The B is For — “B” being symbolic of how we have the power to define life to whatever we want it to be — is her first-ever solo gallery and a virtual hub that takes viewers on a journey through The Bronx. AfroTech had the opportunity to sit down with Raven to further discuss the meaning behind the exhibit’s art, the love she has for her city, and how it all came to fruition despite the challenges of COVID-19. AfroTech: If your photos from the exhibit could talk, what do you think they’d say? Raven: The people in the...
One could argue, and rightfully so, that the ’90s was an era full of Black pride as represented in culture, particularly in music, television, and film. From the anthems of R&B groups to the display of Black excellence on the big and small screen, there was no shortage of inspiration from fine art. One of the common themes, especially in television and film, was the consistent examples of Black creatives and executives. The New York-centered sitcom “Living Single” is an example of a group of Black 20-something women and how they navigated the hustle of dreaming big until they tapped into the success of reaching that dream. Entrepreneurship and success were always at the center, and there was iconic representation for those who aspired for the same. While there are several examples of Black women entrepreneurs throughout history, the depiction of such figures in pop culture has influenced many since the ’90s. According to a Forbes report, Black-owned businesses rose during that...
Tracee Ellis Ross has become an ambassador for a partnership championing Black women entrepreneurs. According to a press release, H&M will carry on its collaboration with Buy From a Black Woman. The nonprofit, created in 2016 by Nikki Porcher, is on a mission to ensure Black women excel in their entrepreneurship journey by providing educational programs, an online directory, and funding, its website states. On the other hand, H&M plans to donate $250,000 toward the nonprofit and sponsor the Buy From a Black Woman Inspire Tour that will spotlight various businesses across the nation. “I feel like part of what’s happening here with H&M and Buy From a Black Woman is this really authentic way to bring attention to Black female entrepreneurs,” Ross told ESSENCE.
Successful entrepreneurs come from all unique walks of life, but being innately driven is a story they all share. While growing up in the bustling neighborhood of Jamaica, Queens, it was destined for Shante Bacon to acquire her entrepreneurial spirit. Her relentless ambition set ablaze what would become an eight-year career at Def Jam.
Being the first to create a new company with no prior experience under your belt can be an intimidating venture. Nonetheless, the long-lasting impact behind the purpose for Navalayo Osembo’s revolutionary idea overshadowed any deterrent the challenge could throw her way. Courtesy of Enda The Kenyan native is the co-founder and CEO of Enda, Africa’s first running shoe company. Kenya is widely known for producing the world’s greatest runners and now, the shoe brand is putting on for its record-breaking talent. The pioneering company is helping to put the country further on the map and its success is a testament to what African talent can achieve. “I think the biggest thing has been changing what people believe is possible. I talk to other entrepreneurs all the time who are following the path that we’ve created in dreaming that global brands can be born in Africa,” Osembo told AfroTech. While Enda is putting a spotlight on Kenyan culture’s influence, it is also aiding in the economic...
Russell Westbrook may not be the richest star in the National Basketball Association (NBA) — but he’s certainly up there. As AfroTech previously reported, Westbrook was one of the top-paid players in the NBA for the 2021-2022 season. He made more than $44 million just for his work on the court alone. But that’s nothing compared to the money he’s making due to the variety of wise business moves he’s been making as of late. Russell Westbrook has been investing in everything from Varo Bank to car dealerships. He even has some great real estate deals under his belt. And all of this is a great way to re-invest the money he’s made in his NBA career, which is actually one of the richest NBA deals ever made in terms of value in history. And, like many successful NBA players, Russell Westbrook even has his own signature shoe line with the Jordan Brand at Nike. “The nine-time All-Star extended his deal with Nike’s Jordan brand in 2017 for another ten years, and in 2018 received his first...
Hip-Hop’s Run The Jewels, comprised of Killer Mike and El-P, are making entrepreneurial moves as a duo with their new craft beer. Run The Jewels’ three new beer collaborations is a partnership with Black-owned breweries including Proximity Brewing, Spaceway Brewing and Green Bench Brewing Co., to expand their brand. View this post on Instagram A post shared by Run The Jewels (@runthejewels) The group is currently collaborating with over 20 breweries from all over the world to create their quality beer. Their first ale “Stay Gold” started their track record off at a solid ranking as it was voted 2017’s “IPA of the Year” by Draft Magazine. According to Pitchfork, each beer — “Never Look Back,” “All Due Respect” and “Blockbuster Night Pt.1” — are named after Run The Jewels’ songs. Plus, partial proceeds from “Never Look Back” will go to Beer Kulture — a nonprofit working to increase diversity, equity and inclusion in the craft beer industry. In addition, partial proceeds from “All Due...
NBA player Bam Adebayo of the Miami Heat just gave these local Miami students the upgrade of a lifetime by surprising them with digital learning tools, Newsone reports. After teaming up with AT&T and Connected Nation, a nonprofit with a commitment to bridging broadband and digital technology gaps throughout the country, Adebayo was able to provide the after-school program with digital devices and hotspots for the next school year. The efforts will help the students further their learning both at the center and from the comfort of their homes. This comes as a part of AT&T’s $2 billion commitment over the next 3 years to address the digital divide. Oxford defines the digital divide as “the gulf between those who have ready access to computers and the internet and those who do not.” “For so many students, our nation’s schools and nonprofit organizations are their only source for social connections and resources for remote learning that have become so vital for future success,” said...
Mono, a Nigerian fintech startup, has announced that they’ve raised quite a bit of money to help with their quest to power the African Internet economy. TechCrunch is reporting that the company — founded by Abdul Hassan and Prakhar Singh — closed a $2 million seed investment round. This announcement came just nine months after the company raised $500,000 in pre-seed capital. Investors for this round of funding include Entrée Capital (one of the investors in Kuda’s seed round), Kuda co-founder and CEO Babs Ogundeyi; Gbenga Oyebode, partner at TCVP; and Eric Idiahi, co-founder and partner at Verod Capital. New York but Africa-based VC Lateral Capital also invested after taking part in Mono’s pre-seed. When all this money is combined with their $125,000 YC investment, their total investment moves to $2.625 million. Originally launched in August 2020, Mono is a company that prides itself on providing a streamlined financial data solution to Africa. However, in recent months, the company...
The global neobanking market is expected to reach an estimated $723 billion by 2028, according to Grand View Research. As more people handle their finances online, the neobanking industry has been getting a lot of love, but what are neobanks anyway? Neobanks are digital-only financial institutions that operate similarly to traditional banks, but without physical branches, The Balance explains. You typically access neobanks through mobile applications and online platforms. While neobanking can be convenient, have lower costs and are more easily accessible, they don’t have the same accreditation as traditional banks and are regulated much less. Above all, neobanking requires access to technology and internet, a luxury that not everyone has. Another thing to think about with neobanking is that even with access to technology and internet, consumers have to be comfortable and trust tech in order to invest in using online-only banking systems. Some neobanks like N26, Atom Bank and Monzo...
The mass call to support Black-owned businesses has seen a tremendous response from the public over the last year. This large spotlight has both attempted to boost American consumers’ morale and recognize how important Black entrepreneurs are to the economy. Above all, it’s not just important that we show our support to these businesses through the power of the internet, it’s also crucial that we amplify the Black founders — especially the Black women — behind these brands. According to the 2019 State Of Women Owned Businesses Report, it found that Black women-owned businesses earned an average revenue of $24,000 per firm vs. women-owned businesses overall that pulled in $142,900 — pointing out that the disparity gap between Black women-owned businesses and all women-owned businesses’ average revenue is the largest out of any minority. Many Black women founders have established successful brands because of their moving origin stories and impactful brand missions. It is now our job...