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July 26, 2022

Fintech Guava Raises $2.4M to Provide Banking Services to Black Small-Business Owners

CFO and Controllership Advisory

Guava, a fintech company, recently completed a $2.4 million pre-seed funding round led by Heron Rock. The funds will help the company expand its team and build more credit products to provide access to capital for entrepreneurs in rural areas. Exbo Group has begun providing ongoing financial support to Guava.

Other key investors included Ruthless for Good Fund, Precursor Ventures, Backstage Capital, Lexi Reese and Ed Zimmerman.

Kelly Ifill, Guava’s Founder, said, “not only have legacy banks underserved Black communities for decades, but they also failed to recognize the vast financial opportunities they missed by doing so. Digital banks like Guava can help by providing broader access to core services, networks and liquidity.” Guava aims to narrow the racial wealth gap by providing financial services to Black small businesses and creators.

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