Despite recent controversy around his political loyalties, it seems Michael “Killer Mike” Render is at least continuing to make good on his promise to help empower Black communities and the BIPOC business ecosystem with his latest move–and admittedly, it’s a huge one.
Per a press release shared with ESSENCE, Greenwood, the digital banking platform for Black and Latino individuals and businesses co-founded by Killer Mike, announced it closed a $45 million investment round led by Pendulum, an investment advisory firm. Other participating investors include Cercano Management, Cohen Circle, The George Kaiser Family Foundation, and NextEra Energy. They join Existing investors Bank of America, Citi Ventures, PNC, Popular, Truist Ventures, TTV Capital, and Wells Fargo.
According to the release, the funding will help Greenwood provide empowerment tools needed for the Black and Latino communities to build generational wealth.
“This investment and our new partnership with Pendulum demonstrate the power of the Black ecosystem and that when you Choose Black, you will not be underserved,” says Ryan Glover, Greenwood’s Chairman who co-founded Greenwood alongside Dr. Paul Judge, Civil Rights leader Andrew J. Young, and rapper and activist Michael “Killer Mike” Render in a news release. “Our vision is to make Greenwood the premier destination for Black and Latino wealth creation and regeneration while keeping community connection and collective professional advancement at the center.”
The venture comes on the heels of Render’s news-making critiques of once Georgia Gubernatorial hopeful Stacey Abrams’ community impact, and conversely why he admired her opponent Brian Kemp, who ultimately wound up winning the race last month.
“Whatever white person you got running your Black outreach, fire them,” Render said during a recent TV appearance. He also reprimanded Abrams for her lack of “Black community involvement” and “unclear stance on the legalization of marijuana.”
Despite his harsh stance critique of Black democrats, the “Go Out on the Town” rapper has tapped the support of business owners who seem aligned of realizing the dream of a thriving Black business ecosystem to life.
“Greenwood is poised to create new outcomes and equip our communities with the resources they have been systemically excluded from in the pursuit of economic opportunity,” says Robbie Robinson, Co-Founder and CEO of Pendulum. “My wife and co-founder D’Rita and I, along with our team, are thrilled to partner with Greenwood to accelerate its mission and deliver its growing product offering to its constituency across the country. I also couldn’t be prouder of the fact that the co-founders of both Pendulum and Greenwood are alumni of HBCUs, including Morehouse, Spelman, and Howard, showcasing the power of our unique collegiate network.”
Greenwood is the digital banking platform for Black and Latino individuals and businesses and was co-founded by Michael Render, civil rights leader Andrew J. Young and Ryan Glover, founder of the Bounce TV Network.