Tag: Paypal

SoLa Impact’s Black Impact Fund Receives $25 Million Investment from PayPal to Address Racial Equity Through Affordable Housing

Stuart Mitchell

SoLa Impact, a leading minority-led housing developer, has announced a $25 million investment from PayPal for its fourth fund, the Black Impact Fund.  The investment further scales SoLa’s production of high-quality affordable housing in California’s major urban markets. PayPal’s investment in SoLa’s Black Impact Fund is part of PayPal’s $535 million commitment to advance racial economic equity and support Black and underserved communities. “PayPal is uniquely positioned to create economic opportunity for underinvested communities. This investment will contribute to progress in closing the racial wealth gap and providing access to affordable housing in Black and…

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PayPal study reveals how the pandemic will influence our celebrations, gift giving and generosity in 2021

Stuart Mitchell

With Christmas fast approaching, PayPal’s Generosity and Giving 2021 study shines a light on how the pandemic continues to shape our celebrations and gifting traditions. Whilst a quarter of Brits (24%) say it feels like Christmas will be back to normal this year, more than half (57%) of Christmas hosts will only invite double vaccinated guests and two in five (39%) will demand guests take a COVID-19 test before they arrive with 25 per cent admitting it’s because they’re anxious about hosting people due to the pandemic. A key worry…

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PayPal Partners With ADL to Fight Extremism and Protect Marginalized Communities

Stuart Mitchell

PayPal Holdings Inc., in partnership with ADL, has announced a new partnership initiative to fight extremism and hate through the financial industry and across at-risk communities. This is the latest effort by PayPal in combating racism, hate and extremism across its platforms and the industry. Through this collaboration, PayPal and ADL have launched a research effort to address the urgent need to understand how extremist and hate movements throughout the U.S. are attempting to leverage financial platforms to fund criminal activity. The intelligence gathered through this research initiative will be…

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PayPal Deposits $135 million in Financial Institutions Serving Black and Underserved Communities as Part of $535 Million Commitment to Advance Racial Equity

Stuart Mitchell

PayPal Holdings, Inc. recently announced it will deposit $135 million of its capital into mission-driven financial institutions and management funds that help underserved communities of color to fight barriers to economic equity, including Hope Credit Union,  OneUnited Bank, Self-Help Federal Credit Union, CNote’s Wisdom Fund and various smaller institutions through a CNote Promise Account. These investments are part of PayPal’s $535 million commitment to strengthen Black businesses and underserved communities, and help drive financial health, access and generational wealth creation.  With these deposits, PayPal has now committed more than $500 million of capital through its racial equity initiatives, including a deposit in Optus Bank; an investment in LISC’s Black Economic Development Fund; investments in 19 Black and Latinx-led venture capital funds; and grants to Black-owned small businesses…

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PayPal Releases 2020 Global Impact Report

Stuart Mitchell

PayPal Holdings, Inc. has released its fourth annual Global Impact Report, which highlights the company’s key environmental, social and governance (ESG) strategies, activities and progress during the last year. The COVID-19 pandemic posed unprecedented challenges for the global community, resulting in economic hardships that impacted millions of individuals and businesses. Guided by a mission to build an inclusive economy for all people, 2020 was a pivotal year for PayPal to take action. Through the strength and scale of its platform, and guided by committed leadership, the company launched products and…

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