Confido has raised $20 million in total funding across its Seed and Series A rounds. Footwork led the rounds with participation from Watchfire Ventures, Y Combinator, Boulder Food Group II, Fintech Fund, Barrel Ventures, and a group of strategic angels. The startup, founded in 2022 by Justin Hunter and Kara Holinski, began by automating Cash Application and Deductions Management. Over the past year, it expanded into Trade Promotion Management and Sales Forecasting, with the mission of giving accounting, finance, and sales teams a single platform to plan, execute, and analyze
Rebundle, the first US-based, plant-based braiding hair company, now has a patent for its flagship innovation. In June, the brand’s founder, Ciara Imani May, announced that the company learned the United States Patent and Trademark Office approved Rebundle’s patent for its hair extension line called braidbetter. “The patent protects the core innovation behind braidbetter, giving it its unique texture, durability, and scalp comfort,” May said in an Instagram post. “For our community, it’s further proof that this product is protected, scalable, and here to stay.” Rebundle solving a solution After May
Casap has raised $25 million in new funding to help banks tackle credit and debit card disputes. The new capital brings its total funding to $33.5 million, according to a press release. The funding round was led by Emergence with participation from Lightspeed, Primary Ventures, SoFi, and others. The startup aims to change the way financial institutions handle disputes and reduce fraud cases. Its intelligent automation accelerates resolutions, cuts fraud by more than half, and eliminates friction for consumers. This capital will allow the company to expand its first-party fraud
In July, Diarrha N’Diaye-Mbaye announced that her beauty brand Ami Colé will close in September. As one of the few Black women to have raised more than $1 million in venture capital, N’Diaye-Mbaye’s exit marks a loss not just for beauty lovers, but for Black female founders, too. Ami Colé had a devoted following, but the brand struggled to compete with industry giants backed by deep-pocketed corporations. “I couldn’t compete with the deep pockets of corporate brands; at retail stores, prime shelf space comes at a price, and we couldn’t
Arif Gursel, founder and CEO of Pan-African Center for Empowerment (PACE), has launched SEA619, a program created to support Black entrepreneurs in the Seattle area. Gursel is launching multiple programs within SEA619, taking an individual approach for each business. The organization’s name is a combination of the Seattle-Tacoma airport code, SEA, and 619 to honor Juneteenth. “I believe people come into things at varying needs, skill sets, and understandings, and when you try to put something on a rail, some of those carts go faster. Some of those carts go
Lava Payments, a fintech startup founded by Mitchell Jones to transform AI-driven transactions, has secured $5.8 million in seed funding. The round was led by Lerer Hippeau and supported by Harlem Capital, Streamlined Ventures, and Westbound. Lava is a digital wallet that lets merchants use usage credits to facilitate transactions, according to TechCrunch. Why Lava Exists Jones launched the startup after leaving his previous Y Combinator-backed fintech startup, Lendtable, where he began experimenting with AI. While building a basic form-filling agent, he continued to experience the same issues. “I was using
Black-owned social media network Fanbase has reached $12.7 million of its $17 million equity crowdfunding campaign. Founder Isaac Hayes III announced the milestone in an Instagram post, saying, “This raise is part of a larger mission to democratize ownership in the social media space.” Hayes is shifting away from traditional venture capital and turning to the community for investors, as the public now has the opportunity to own a stake in the platform. Fanbase’s equity crowdfunding campaign It reached $10 million of its equity crowdfunding campaign in 2024, which reportedly made Hayes
Rachel Allen, Ebony Cochran, and Jessie Hayes are creating a business school to close the racial wealth gap that hinders Black female entrepreneurs. Detroit has one of the highest concentrations of Black women–owned businesses in the US, but these women will often struggle to access the same financial capital as their white peers. Allen, Cochran, and Hayes are all successful Black entrepreneurs, but they don’t want to leave other Black people behind. “We’ve waited long enough to be invited to spaces that weren’t built with us in mind,” Cochran said.
Black-founded and centered membership club The Gathering Spot has announced its most ambitious plan to date: a 60,000-square-foot space in Atlanta called The Retreat. The new space features a rooftop pool, co-working spaces, and two restaurants, which will cost members $3,100 for an annual membership, according to The Inc. The Gathering Spot’s history The Gathering Spot appears to be on good, solid ground following its shaky merger with Greenwood. In 2022, it announced that Greenwood had acquired it. However, there were reported disputes between the two companies, including reports of a
The Black Founders Matter Fund is eyeing a second fund after fully deploying capital from its first. Launched in 2019, the early-stage fund invests in Black and other underrepresented founders building solutions in sectors such as health, wealth, and economic mobility. Managing Director Himalaya Rao-Potlapally says the experience has offered critical insights, not just for the fund’s strategy, but for how the venture ecosystem can better serve founders long term. Investing in Black startups Black Founders Matter began to gain traction in 2020, coinciding with the resurgence of the Black
