Greenwood acquires Kinly
Greenwood , the digital banking platform for Black and Latino individuals and businesses, announced its acquisition of Kinly earlier this month. Kinly is a digitally native neobank building generational wealth for Black America and its allies,
The acquisition will help grow Greenwood’s ecosystem of over one million members and provide Kinly’s community of over 300,000 with priority access to Greenwood’s financial product that emphasizes community building and wealth creation for Black and brown people.
Since its launch in 2020, Kinly has raised $20 million in funding. It helped its members manage their day-to-day finances by offering early access to direct deposit funds, cash back rewards, overdraft protections, and term life insurance from Haven Life . However, since the Kinly app is no longer available, it’s likely that Haven Life isn’t getting any traffic from this relationship.