No doubt the distance between the state of funding for small businesses and Black-owned businesses is massive. Though there has been a significant rise in the amount of funding that minority fintech companies and other startups in different industries, the gap is still widening by the day.

According to Fortune‘  Despite the growth that has been recorded in the funding capacity and accessibility of Black-owned startups, Black entrepreneurs still only receive only a tiny fraction—1.2%—of all the venture capital funds invested in the United States.

With that being said, on the other hand, the number of Black founders, Venture Capitalists, and several other angel investors is still significantly lesser compared to the general populace. This widening gap is further reflected in the last quarter of 2021.

Though, It’s expected that the fintech industry will continue to drive and support financial inclusion, and funding diversity as it were, however, creating access to that change can take too long to take effect. As a result, startups are left in the lurch without any access to the funding they need.

According to Techcrunch, indeed, a leading fintech company, First Boulevard raise $5 million for its digital bank that is aimed at Black America. In this article, we will be exploring some of the Black-owned companies that have successfully secured funding for their startups.

Black-owned Startups Bridging the Funding Gap

Entrepreneurs, Angel Investors, Venture Capitalists, and the Black Funding Gap

In spite of the challenges that Black-owned businesses and startups face when it comes to finding funding for their companies, some startups are able to thrive regardless. We have compiled some of these startups who have stood the test of time only to emerge even stronger and funded.

Black-owned startups may have their challenges when it comes to accessing funds to help them get things started, but there are other options, such as grant funding when it comes to launching their startups. To save time and get the help you need, navigating your way through by simply reaching out to schedule a consultation can make all the difference.

Brooklyn-based Therify Raised a $1.3M Seed Round

Entrepreneurs, Angel Investors, Venture Capitalists, and the Black Funding Gap

Therify — is Inclusive mental healthcare for minority workforce · The approach is rooted in the concept of equity and inclusion and driven by the belief that mental healthcare should work for.