To help bridge the gap between Black homeowners and their white counterparts, Ashley D. Bell and Dr. Bernice A. King have partnered up to launch a new initiative to make the path to homeownership more accessible. Fintech platform, Ready Life offers consumers a new path to buying a home that does not include credit score requirements. Instead, the clever move aims to equip communities with the tools needed to help them advance economically. Continuing her father’s legacy Dr. Bernice King, daughter of civil rights legend, Dr. Martin Luther King Jr., is following in her father’s footsteps
In a recent TikTok video, former Beauty and Style Editor at Essence magazine, Blake Newby, opened up about her journey into venture capital after spending many years working within the editorial and digital realm. After one year as Beauty and Style Editor at Essence magazine, Newby has set her sights on a new journey: helping small Black beauty brands excel to new heights. “So, as of Friday, I am no longer a Beauty and Style Editor. I know that I have detailed the volatility of the editorial industry – I’m
Leading alcohol e-commerce shop, Drizly, has announced the launch of its ‘Sip with Purpose’ program, dedicated to supporting and driving BIPOC-, LGBTQIA-, and woman-owned brands in the alcohol industry. The platform’s ‘Sip with Purpose’ Brand Accelerator Program is now open for applications. The initiative, which will be highly beneficial for underrepresented founders, aims to provide businesses with a $4 million media commitment to raise awareness and drive support for these brands. Drizly, founded in 2012, is one of North America’s largest online alcohol marketplaces. The platform, which offers a variety
SquadTrip, an automated payment solution for large and small group trips, has launched its new online platform. Travel organizers can create booking pages, accept payments efficiently, and manage communication and financials in one place. SquadTrip is the first travel platform targeting millennials with flexible payment installments, Apple Pay checkout, and promo codes. The new software as a service (or SaaS) platform is a time-saving tool that eliminates the need for tracking payments using spreadsheets or sending multiple text/email messages. Travel professionals can build customized trip pages and travel packages and
Nigerian B2B e-commerce platform Omnibiz has secured $15 million in pre-series A funding. The funding round, led by Timon Capital, included Ventures Platform, Lofty Inc, Chapel Hill Denham, Chandaria, and Musha Ventures. Omnibiz, founded by Deepankar Rustagi, is a distribution platform that works to create a more revolutionized approach to distribution. The platform aims to completely change how the retail ecosystem in developing markets operates by eliminating the disorganization of traditional trading and digitizing the retail chain. “We believe the smart informal retailer – not shopping malls – is the
Black Business Month isn’t over just yet! Amazon has announced that they are testing a new badge that aims to help boost the exposure of Black-owned businesses that buy and sell products through its online store. The initiative, which comes just after the anniversary of the app’s first Black Business Accelerator program, will highlight to customers when a Black-owned business sells a featured offer product. That way, customers can discover, shop, buy and support Black-owned businesses, ultimately helping small business owners expand their clientele and reach a broader demographic. “As part of
Black-owned venture capital firm Brown Venture Group announced that it had received a $1.5 million investment from the Bush Foundation. Brown Venture Group, co-founded in 2018 by Dr. Paul Campbell and Dr. Chris Brooks, is an investment firm committed to investing in BIPOC tech startups and founders. The firm aims to help all startups in its portfolio grow as a brand through investment capital, training, and professional networks. By focusing on excelling in tech entrepreneurship, Brown Venture Group hopes its investments will help bypass many of the racial biases that
Black-owned venture capital firm Microtraction announced a $15 million close of its second fund to further invest in African tech entrepreneurs. Microtraction, founded in 2017 by Yele Bademosi and Kwamena Afful, works to make pre-seed funding for African tech entrepreneurs more accessible. The organization has invested in 36 businesses across Nigeria, Ghana, Kenya, and Rwanda. Their services aim to assist early-stage startups with pre-seed funding and advisory services. According to Microtration, its portfolio companies have raised over $100 million in follow-on funding, valuing the firm’s portfolio at over $750 million
Black-owned real estate tech startup, Rhove, has announced its new partnership with housing changemakers in New Orleans to promote economic inclusion. The partnership, which includes Forward Together New Orleans, The Mayor’s Fund, and The Greater New Orleans Housing Alliance (GNOHA), will provide a grant to fund credit to help 2,000 residents invest in commercial real estate using the Rhove app. Rhove, founded by Calvin Cooper, is a fintech company designed to empower everyone to invest in and own real estate. The company, located in Ohio, is on a mission to
Incredible Health, an award-winning job-matching platform for nurses, has closed an $80 million Series B funding round. The latest funding round was led by Base10 Partners, including investors Andreessen Horowitz and Obvious Ventures. To date, the digital marketplace has hit a staggering $1.65 billion valuation, making its founder, Dr Iman Abuzeid, one of the very few Black female founders spearheading a unicorn company. Abuzeid founded the nurse-hiring startup in 2017 to act as the bridge between healthcare workers and industry hires, matching “the right nurse with the right role at
