Greenwood Raises $45 Million Funding Round

Greenwood, the digital banking platform for Black and Latino individuals and businesses, today announced it has closed a $45 million investment round led by Pendulum, a strategic growth investing and advisory platform designed for founders and leaders of color. With this investment, Pendulum becomes the largest investor in Greenwood on a dollar basis. This investment demonstrates the power of the Black entrepreneurial ecosystem with the round being led by Pendulum and following Greenwood’s recent acquisitions of Black-founded The Gathering Spot and Valence. Other new investors in this round include Cercano Management, Cohen Circle, The George Kaiser Family Foundation, and NextEra Energy. Existing investors Bank of America, Citi Ventures, PNC, Popular, Truist Ventures, TTV Capital, and Wells Fargo also invested in this round.