Stackwell, a digital investment platform targeting the black community, has raised $3.5 million in a seed funding round.
The funding round was led by Michael Gordon, president of Fenway Sports Group, Jeremy Sclar, CEO of WS Development, and The Kraft Group.
Stackwell will use the funds to support the imminent release of its first product, a robo-investing app. that promises to promote accessibility, education and support throughout the investment process.
Trevor Rozier-Byrd, CEO, Stackwell, says: "At Stackwell, we believe that the racial wealth gap is the social justice issue of our time.
"With the support of our investors, we are on the path towards addressing this, and other systemic social issues, by enabling more people in the Black community to build equity by owning equity."