Greenwood raises $45 million

Greenwood, the digital banking platform for Black and Latino individuals and businesses, has closed a $45 million investment round led by Pendulum, with participation from Cercano Management, Cohen Circle, The George Kaiser Family Foundation, NextEra Energy, Bank of America, Citi Ventures, PNC, Popular, Truist Ventures, TTV Capital, and Wells Fargo.

Founded in 2020, Greenwood’s banking product is powered by Coastal Community Bank. The Georgia-based startup is also announcing a new membership product – Elevate – an all-access pass to take one’s career and lifestyle “to the next level.” The new membership offering is the culmination of Greenwood’s acquisitions of The Gathering Spot, a private membership network focused on the Black community, and Valence, a platform that connects, showcases, and empowers the Black professional community through professional development and career opportunities.

Greenwood’s combined community across Greenwood, The Gathering Spot, A3C and Valence is over 1 million people and Greenwood’s banking platform already has more than 100,000 customers.