There is so much information available to help us understand what's happening in and around private equity - how to find it, attract it and grow with it. Here we curate articles to aid in the mission of disseminating News You Can Use!
This article was originally posted by Morning Brew
The virtual banking platform for Black and Latino customers will launch a suite of saving and spending accounts for it’s 550,000+ waitlist this summer.
by: Matty Merritt
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Greenwood’s mission is “modern banking for the Culture.” The digital banking platform is designed specifically for Black and Latino customers who have historically been denied access to credit and other financial services at much higher rates than white customers. Greenwood plans to launch its interest savings and spending account services this summer, and it already has a waitlist of >550,000. Eventually, the company will release investing offerings, as well as business and home loans.
The barriers to access the stock market are coming down, and Black Americans are taking advantage.
by: Neal Freyman
We all know the story: Without much else to do in 2020, bored Americans turned to stock trading to fill the time. They were so enthusiastic, or bored, or both, that last year individual traders accounted for a larger share of market activity than at any time during the past 10 years.
Here’s the lesser-known story: That surge in individual trading was led by more Black investors getting into the stock market.
According to the Ariel-Schwab Black Investor Survey, 63% of Black Americans under the age of 40 are now participating in the stock market, the same share as white Americans.
Noobie investors were responsible for closing what was once a wide gap. 29% of young Black Americans became first-time investors in 2020, compared to 16% of white Americans.
This article was originally posted by KingsCrowd June 16,2021
Crowdfunders Are Investing in Far More Minority Founders Than VCs Are
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Online private equity offers a new way for Black entrepreneurs to receive the funding that they have been historically excluded from.