Greenwood Inc. acquires the Gathering Spot

The Gathering Spot, a private membership network centered on the Black community, has been acquired by Greenwood, a digital banking platform for Black and Latino individuals and company owners.

Greenwood and The Gathering Spot have the same goal of assisting minorities in achieving financial independence using community building, entrepreneurship, group economics, and wealth creation.

Over one million people live in the united firm. They'll keep delivering features like community building, personal finance content, and banking services together.

The Gathering Spot offers tailored experiences, exclusive content, concierge services, and access to The Gathering Spot flagship clubs, which comprise offices, conference halls, entertainment venues, cuisine, and bars.

Atlanta, Washington, DC, and Los Angeles are all home to Gathering Spot clubs. Members from New York City, Chicago, Detroit, Charlotte, and Houston are members of the thriving Connected City networks.

Members of The Gathering Spot enjoy access to a variety of in-person and online experiences, including dialogues with corporate and cultural luminaries such as Gabrielle Union, Will Packer, and Tope Awotona.

Greenwood and The Gathering Spot are both committed to assisting minorities in achieving financial independence and developing wealth.

In addition to being named Chief Community Officer of Greenwood, Ryan Wilson will continue with his role as co-founder and CEO of The Gathering Spot.

TK Petersen, co-founder, and COO of The Gathering Spot will remain in that position while simultaneously joining Greenwood as a Vice President.

Greenwood has thousands of customers and is now onboarding a 700,000-person waitlist. Executives, entrepreneurs, entertainers, creatives, and others are among the nearly 12,000 members of The Gathering Spot.

Accenture, Apple, The Coca-Cola Company, Goldman Sachs, Microsoft, Meta, NAACP, Revolt, Truist, and Spotify are among the thousands of companies represented at The Gathering Spot.

Ryan Wilson, Co-founder and CEO of The Gathering Spot and Chief Community Officer of Greenwood said, “The Gathering Spot prides itself on building an intentional community, one where we can celebrate each member and connect them to the resources and networks they need to build on their successes.”

“Joining with Greenwood is a commitment to our community, and we share Greenwood’s vision in empowering people and helping them to build opportunity and generational wealth.” he added.

“This combination of Greenwood and The Gathering Spot provides immense benefits to the members and will unlock a full range from financial education to banking and financial tools.” said TK Petersen, Co-founder of The Gathering Spot and Vice President at Greenwood.

Also adding, “We are excited to bring these two communities together and continue to innovate and roll out combined products and offerings to our community.”

Paul Judge, a Board member at Greenwood, stated “the future of finance is community. The Black community has been a cultural leader for a long time. It makes sense that it now becomes more of a leader in business and in the future of finance.”

Adding that “It is an important milestone to have two Black-owned companies on both sides of an M&A transaction. It brings a new meaning to the term ‘black-on-black’.”

Co-founder & Chairman at Greenwood, Ryan Glover said “Minorities continue to face a lack of financial inclusion and tools. Both Greenwood and The Gathering Spot have been leading conversations on access to capital and the power of minority financial inclusion. This moment marks a significant milestone for the culture and strength within the community.”

He further added, “The combined efforts of Greenwood and The Gathering Spot will expand the collective power of minorities to impact the wealth gap.”

The Gathering Spot's Background

The Gathering Spot is a private network that offers minority professionals, those in the creative space, and entrepreneurs access to the network, premium content, unique experiences, butler service, and access to The Gathering Spot flagship club locations, which feature office space, entertainment venue, and a bar and restaurant.

Atlanta, Washington, DC, and Los Angeles have Gathering Spot clubs, as well as Connected City communities in New York City, Chicago, Detroit, Charlotte, and Houston.

Greenwood’s Background

Greenwood is a platform allowing Black and Latino individuals and businesses to use digital financial services.

Greenwood is teaming with FDIC-insured banks to provide customers with the flexibility to spend and save securely while also supporting Black and Latino organizations and companies.

Greenwood stays true to its objective by allowing customers to round up their purchases to the next dollar and contribute the difference to major charity partners.

Greenwood was formed by civil rights leader Andrew J. Young, rapper and activist Michael Render also known as KI, and Ryan Glover, founder of the Bounce TV Network, with backing from six of the top seven banks, including Citi, JPMorgan Chase, PNC, and Truist, and also Visa, Mastercard, and SoftBank.