This Fintech Company Raised $2.4 Million To Help Small Black-Owned Businesses

woman leaning against mirror holding a laptop
Alyssa Guzik
January 9, 2024

Kelly Ifill grew up in a family that was filled with entrepreneurs. Her parents were contractors, her grandmother owned a cleaning company, and her extended family had various businesses. Seeing the pressure they lived under, she decided that wasn’t the direction for her. Until it was.

Raised in Brooklyn, New York, Ifill saw small businesses she’d grown up around struggle to stay afloat. Like many Black-owned businesses, it was hard to find financing and banking options. She felt compelled to help.

In January 2023, Ifill launched Guava, a fintech company geared directly to helping Black-owned businesses. It is an online bank for Black businesses, providing access to everything from basic business bank accounts to financing.

Guava has since raised $2.4 million in funding and acquired over three thousand business members. Ifill’s venture is helping local and small businesses access banking opportunities they once struggled to receive.

By leveraging cutting-edge technology and expertise in finance, Guava is empowering Black business communities economically while fostering inclusivity within the broader financial world.