Altro, a leading credit-building and financial literacy platform, has raised $4 million in a strategic funding round, gaining support from figures such as Tinashe, Quavo, Marshawn Lynch, and Chris Paul. Altro Founded in 2019 by Michael Broughton and initially known as Perch, Altro has been instrumental in helping users enhance their credit scores. It ingeniously integrates everyday payments and subscriptions into its credit-building mechanism, including Netflix, Spotify, Amazon Prime, and Starz. Beyond this, Altro extends educational resources to all its members, even those with a baseline free membership. These resources encompass Altro’s Convo, featuring short
Conducive Capital, a newly formed South African venture capital firm, has launched a $50 million fund for early- and growth-stage tech startups across Africa. Meet The Team The fund is headed by Clive Butkow and Mitchan Adams. Butkow is the founder and former CEO of Kalon Venture Partner and former COO of Accenture South Africa. Alongside Adams, the co-founder of Ozow and current CEO of Aions, the two have collectively invested over R300 million, with an internal rate of return of more than 30% over the past seven years. Their combined expertise is set to invigorate the African
Tennis star Venus Williams has brought her design talents to Palazzo, a generative AI-based interior design platform bridging the gap between design and personalization. The service, co-founded by Williams, Raffi Holzer, and Edward Lando, allows users to reimagine their living spaces with the help of advanced technology. Palazzo Palazzo introduces a new approach to interior design, blending the ease of technology with design expertise. Users can upload photos of their rooms and, through a conversation with an AI chatbot, witness a convincing transformation of their space. Palazzo, currently in beta, holds vast
The Russell Innovation Center for Entrepreneurs (RICE), a pivotal hub for Black entrepreneurs in Atlanta, announced a $2 million grant from Truist Foundation and two Truist Trusteed Foundations. RICE positions itself as Atlanta’s home for Black entrepreneurs and an economic mobility engine for the community. Its stakeholders have created hundreds of jobs, generated over $100 million in revenue, and spurred $450 million in total economic activity. This financial endorsement by Truist comes at a critical time. It is set to accelerate RICE’s expansion efforts and elevate the stature of Atlanta-based Black entrepreneurs within and
RuPaul, the iconic multifaceted celebrity, has embarked on an innovative venture with the launch of Allstora, an online book marketplace. Allstora This 100% author-owned platform empowers and showcases storytellers from underrepresented communities, including LGBTQ+ individuals, women, and people of color. Allstora, co-founded by RuPaul alongside bestselling author Eric Cervini and his partner, Adam Powell, hosts an impressive selection of over 10 million titles. Before Allstora, Cervini, and Powell were involved with ShopQueer.co, a precursor to this new initiative. As the chief creative officer, RuPaul will also spearhead RuPaul’s Book Club, focusing
The Burns Brothers are making history with Africa’s first-ever African-American-owned private membership club. Their visionary enterprise, HQ, initially launched in Washington, DC, is now expanding to Nairobi, Kenya, setting a new precedent in the global business sphere. This expansion marks a significant milestone, as it is the first instance of a private membership club on the African continent owned by African Americans. “Africa’s burgeoning status as a global economic powerhouse, its projection to account for one-quarter of the world’s population by 2050, and Kenya’s emergence as a promising economic epicenter
Raioni Madison transitioned from a classroom teacher to the full-time leader of 3D Girls Inc., a testament to her unwavering commitment to empowering young women. Meet Raioni Madison In 2019, Raioni Madison, an educator with a rich family history in teaching, made a momentous decision. She bid adieu to her teaching job to focus entirely on 3D Girls Inc., a nonprofit she founded in 2012. Her dedication to addressing the disparities in resources and opportunities for young girls, particularly in STEAM (Science, Technology, Engineering, Arts, and Mathematics), fueled this leap.
Black-owned businesses can help close the racial wealth gap in the United States, a report has found. The “Gather Against the Gap” report marked a significant step towards addressing the racial wealth gap that critically impacts Black Americans. The Racial Wealth Gap The data found a $10 trillion racial wealth gap in the United States. The gap was illustrated by the median wealth of Black households at $20,000, in contrast to $180,000 for white households. This wealth disparity, coupled with an employment and income gap, significantly hinders the economic progress
MOONHUB has recently announced a significant boost to its growth and innovation efforts with an investment of €1.3 million ($1.4 million), led by Unconventional Ventures. The round, backed by Pi Labs and Ada Ventures, has raised MOONHUB’s total funding to an impressive €4.1 million ($4.5 million). MOONHUB’s Story MOONHUB is a trailblazing, interactive virtual reality (VR) training platform. Founded in 2016 by CEO Dami Hastrup and co-founders Vinh Ly and Hannah Sutcliffe, MOONHUB is pioneering in learning and development. Its platform offers CPD-accredited immersive VR learning experiences featuring its patented Spot and Jot technology. This approach has seen the
Tiana Tukes, a prominent co-founder of LGBT+ VC, has recently announced her departure from the organization. Her decision is a significant moment in her career, marked by groundbreaking achievements and unwavering commitment to advancing LGBTQ prosperity through venture capital. Tukes’ Journey With LGBT+ VC Two years ago, Tukes embarked on a journey to establish LGBT+ VC. The non-profit organization focuses on supporting the LGBTQ community in the venture capital sector. Her initiative began as a simple idea for a private dinner for openly LGBTQ investors, a concept she initially felt
