Guava, digital banking and networking platform by and for black entrepreneurs, has scored $650,000 in funding from Laidlaw Scholars Ventures.
Guava has a mission to narrow the racial wealth gap in the US by facilitating the development, growth and resilience of black-owned businesses.
In addition to its mobile-first and seamlessly connected banking platform, Guava also offers access to an expansive community where Black entrepreneurs can connect, learn, and partner with each other. L
Laidlaw Scholars Ventures, a new Venture Capital fund established by the Laidlaw Foundation to invest in mission-led businesses by Laidlaw Scholars, invested $650,000 as an extension of Guava’s pre-seed round last year.
The funding will be used to expand the product and its community aspect, supporting Guava in providing insights and sharing best practices with their customers.
Guava CEO and founder Kelly Ifill said, “I am excited to partner with Laidlaw Scholars Ventures as Guava progresses its mission to grow and celebrate Black-owned businesses across the U.S.
“Not only does this support our communities and set the stage for a more equitable future but investing in Black business represents a vast financial opportunity that has long been overlooked. The best and sharpest investors now recognise this and act accordingly.”
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