A digital banking startup focused on providing financial services to Black business owners will receive a $100,000 grant from Google, Tech:NYC and Cornell Tech as the winner of the first-ever New York City Recovery Challenge.
Guava, founded in Brooklyn in March, plans to soon launch a digital banking platform that offers commercial checking accounts and online community-building and networking tools for Black small-business owners, who research shows are historically underserved by banks.
“Our north star is creating a more equitable small-business environment for Black entrepreneurs,” said Kelly Ifill, Guava’s CEO and founder.
She believes Guava can help close the racial wealth gap, in which Black families’
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