Community-first mobile app Hive Wealth secures $600k deed round Investment from Black Tech Nation Ventures
Hive Wealth by Impart Media (Hive Wealth), a community-first mobile app that helps people grow their wealth and leave a legacy for future generations, announced it received $600K in funding from Black Tech Nation Ventures. Through Black Tech Nation Ventures, Hive Wealth is now able to address massive financial inequalities that millions of people of color in the USA experience.
Yvette Butler, Founder, Hive Wealth: "We are thrilled to announce Black Tech Nation Ventures as our first institutional investor. BTN Ventures and Hive Wealth share a common mission of building generational wealth. We are excited to become a part of their ecosystem and look forward to working with them to bring our common missions to reality."
The team, led by Butler, President of SVB Private Bank and a Black woman who has spent 30 years in finance at some of the world's largest banks, has a time-tested history of working with traditional and nontraditional financial institutions, tech, and underrepresented communities. The Hive Wealth community-first mobile app helps people connect with communities of financial peers to discuss wealth, share trade insights, and break the money taboo. Users can set financial goals, analyze spending patterns, and become experts on their finances.
David Motley, General Partner, Black Tech Nation Ventures: "Hive Wealth has all of the characteristics of the ideal portfolio company. Hive Wealth has a highly knowledgeable and motivated founder, delivering a big, bold idea to address a real problem in a large market. We are excited to have had the privilege of taking the majority of this round of funding as BTN Ventures invests in Black and diverse founders creating scalable software and SaaS-oriented companies. We look forward to continuing to invest in Hive Wealth as it refines and expands its platform."
BTN Ventures is a national technology venture fund that is majority Black-owned and majority diverse-invested, committed to supporting companies that are closing the racial wealth gap. They invest in distinctive Black-led opportunities like Hive Wealth that are proving themselves to be profitable, scalable, and sustainable businesses.