DURHAM – Three North Carolina firms are receiving a combined $200,000 in funding from Google for Startups Black Founders Fund.
They are:
- LoanWell (Durham)
- Courtroom5 (Durham)
- Freeman Capital (Charlotte)
“We are committed to helping Black founders who have been deeply impacted by COVID-19 and who are disproportionately locked out of access to the funding they need to succeed,” says Jewel Burks Solomon, Head of Google for Startups US, in Tuesday’s announcement.
“By combining cash awards with Google for Startups mentorship and programming, we hope to help create a more level playing field for these founders, who are building amazing companies and making an impact on their communities.”
The three NC startups participated in the Google for Startups Black Founders Exchange hosted by the American Underground in Durham.
LoanWell also participated in the Google for Startups Accelerator.
In all, Google for Startups divided $5 million among more than 70 companies.
The funding is non-dilutive.
The Black Founders Fund launched in June..
Google for Startups notes about the firms:
LoanWell is an automated end-to-end loan origination platform for community banks, credit unions, CDFIs and loan funds. Our technology helps community lenders reach more main street small businesses across the United States with much needed capital to stabilize and grow their businesses.
Notes Bernard Worthy, CEO: LoanWell’s cloud-based solution is helping thousands of small businesses across North Carolina access COVID relief dollars, and with Google’s support and these funds we will expand to the Midwest and West Coast helping more community lenders provide a lifeline to thousands of more small businesses across the country.
Courtroom5 is on a mission to democratize the courts and deliver access to justice to everyone with an automated legal toolbox that helps people represent themselves in court.
Sonja Ebron, Co-Founder and CEO, says: COVID-19 is sending millions more people into court to fight for justice on their own. This backing from Google lets Courtroom5 reach them faster. It sends an important signal to potential investors and partners. It ultimately helps more people save their homes, future wages, and other valuable rights and privileges.
Freeman Capital’s mission is to close the racial wealth gap by providing 3 easy to follow steps each month that build wealth.
Says: Calvin F. Williams, Jr., Founder and CEO: This investment from Google into FreemanCapital.co helps to advance our work and mission to help people of color build their wealth by providing access to the tools, education and one-on-one advice so we can close the racial wealth gap now.
11 investors back Durham fintech startup LoanWell with $715,000
