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Mastercard Commits $500M To Boost Black Communities, Businesses

PYMNTS

Mastercard said it will invest $500 million in Black communities across the U.S. The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. This is a time for action.

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Carpool Startup Scoop Raises $60M In Activate Capital-Led Round

PYMNTS

The funding round was led by Activate Capital with participation from Goldman Sachs, NGP Capital, Total Group, BNP Capital and others. It is now in 2,000-plus cities including major metro areas like Los Angeles, Reno and Portland. The money will be used to further expand and grow the platform. .

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Nike Web Store Sells Out Of Kobe Bryant Merchandise

PYMNTS

. “We will not be selling any Kobes till further notice,” RIF Los Angeles announced in a statement. ” The front page of Nike’s website has now been turned into a memorial page for the Los Angeles Lakers star. He launched the venture capital firm Bryant Stibel in 2013 with Web.com Founder Jeff Stibel.

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Allset Notches $8.25M To Improve Restaurant Ordering Experience

PYMNTS

Launched in 2015 by Co-founders Stas Matviyenko and Anna Polishchuk and headquartered in Los Angeles, California, Allset works with more than 2,500 restaurants in 11 major U.S. The new funding will help the company further assist the communities they serve, as well as advance efforts to keep employees safe. We aim to be the No.

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eCommerce Grocer Weee Notches Almost $50M In Funding

PYMNTS

Lightspeed Ventures, iFly.vc, Silicon Valley Bank and Goodwater Capital were participants in the investment, Deal Street Asia reported. Weee, which was started in 2015, began as a community buying platform that received Asian spices and fresh produce, among other items. It has over 5 million registered users.

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On-Demand Delivery Service Munchery Ceases Operations

PYMNTS

That came after it shut down service in Seattle, Los Angels, and New York. We have also enjoyed giving back to our community through meal donations, volunteer service, and so much more.”. In May Munchery said it was planning to focus on its largest market, which was San Francisco, in an effort to become profitable.

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CRE Credit Risk – What You Need To Know Now

South State Correspondent

CRE Risk Background While ten years ago, community and regional banks use to make up some 55% of the CRE market, in 2023, these banks now compose approximately 72% (below). The risk here is that community banks continue to take on an above-average amount of CRE credit exposure. This article explores the risk and what to do about it.