Davis Polk advised Truist Ventures, the corporate venture capital division of Truist Financial Corporation, on its lead role in an up to $40 million Series A funding round in Greenwood. This investment will go towards the development of Greenwood’s online banking solutions for Black and Latinx people and business owners.
Greenwood is a mobile application digital banking platform for Black and Latinx people that features best-in-class online banking services and innovative ways of giving back to Black and Latinx causes and businesses. Truist Ventures is the corporate venture capital division of Truist Financial Corporation, a purpose-driven financial services company committed to inspire and build better lives and communities.
The Davis Polk financial institutions M&A team included partners Margaret E. Tahyar and Evan Rosen, counsel Christopher M. Paridon and associate Malik M. Khalil. Members of the Davis Polk team are based in the New York and Washington DC offices.