First Boulevard, a digitally native neobank focused on improving the financial livelihood of Black communities across the U.S., raised $5m in seed funding.
Backers included Barclays and Anthemis and angels such as Gabrielle Union, John Buttrick and Jamere Jackson.
The company intends to use the funds to expand its team, increase its customer base and grow the platform to offer fee-free debit cards, financial education, a Black business marketplace, and technology to help members automate their saving and wealth building goals.
Led by Co-founder and CEO Donald Hawkins and Co-founder and COO Asya Bradley, First Boulevard provides banking platform for Black Americans.
First Boulevard, which is currently accepting customers on their early access wait-list with an expected launch in Q3 2021, has also announced a partnership with Visa. A Visa Fintech Fast Track partner, First Boulevard will be first to pilot Visa’s new suite of crypto APIs, which will enable their customers to purchase, custody and trade digital assets. The pilot program is expected to launch later this year. First Boulevard will also launch a First Boulevard Visa Debit card, which offers digital-first features, including early access to wages with Early Direct Deposit, a Cash Back for Buying Black™ program, and financial education and budgeting tools to improve spending habits.