Client News/Details

Snell & Wilmer Advises Fintech Startup Greenwood in Acquisition of Kinly

May 2, 2023

SAN DIEGO – Snell & Wilmer advised Greenwood, Inc. (Greenwood), a digital banking platform for Black and Latino individuals and businesses, in its acquisition of Kinly, a digitally native neobank building generational wealth for Black America and its allies. This acquisition brings together the two largest fintechs focused on the Black community.

“Kinly has always shared in our commitment to building a more transparent banking experience for Black Americans,” said Ryan Glover, CEO and co-founder of Greenwood in a recent press release. “The acquisition of Kinly represents a massive milestone for Greenwood as we continue in our shared effort to elevate financial tools available for our community. In partnership with Donald Hawkins from Kinly, we plan to grow our footprint and expand our services to provide best-in-class experiences for Black and brown families and businesses.” This acquisition, Greenwood’s third since 2022, highlights the company’s continued expansion plans to bring best-in-class offerings together for its members, providing access to additional professional services, networking opportunities, and cultural experiences.

Bardia Moayedi led the Snell & Wilmer team advising Greenwood in the deal. The diverse team included Sarah Hibbard and Paralegal Scott Drake.

Snell & Wilmer’s mergers and acquisitions attorneys are well-versed in providing strategic, innovative legal and business services for complicated corporate transactions. They have extensive experience with transactions in a variety of industries, including highly regulated industries where the intersection of business and government requires a particularly strategic and risk-sensitive approach. Their experience, coupled with deep industry knowledge, allows them to provide thoughtful, innovative and comprehensive solutions for all of their clients. Snell & Wilmer’s clients include sellers, buyers, investors, banks and bankers, venture capital firms, private equity firms, institutional lenders, independent directors and committees, management groups, creditors and creditor committees.