Paybby, the Leading Fintech for the Black and Brown Communities, Launches a Regulation CF Equity Crowdfunding Offering
Paybby, the leading fintech for the Black and Brown communities, announced it has launched a Regulation CF equity crowdfunding offering following the filing of its Form C with the U.S. Securities and Exchange Commission. The purpose of this offering is to allow both accredited and non-accredited investors the opportunity to invest in Paybby. As a Public Benefit Corporation, Paybby advocates for communities that have systematically not received fair access to financial services. The Wicket Banking app by Paybby, offers a smart banking app with checking as savings accounts and innovative tools to manage finances.
“Paybby wants to provide smart banking for the people. Paybby is opening up private equity investments to everyone,” said Hassan Miah, the CEO of Paybby. “These investments are typically not available to smaller, non-institutional investors and have been limited to wealthy Family Offices, Individuals, and Private Equity Funds. Paybby is a digital bank that is committed to transparency and trust to all users and the communities it serves.”
“For a minimum investment, anyone can invest in Paybby and own a piece of the Wicket smart banking app. NeoBanking is one of the world’s fastest growing industries as users around the world discover the benefits of digital banking designed from the ground up. Equity crowdfunding allows our communities and our users to be a part of history and invest in Paybby, a digital bank focused on the Black and Brown community. In addition, they will support our organization and help their communities,” says Miah. “Currently, Black banks are small and limited to servicing customers in their immediate geographic area. As a mobile bank, Paybby is available nationally and can target any community in need throughout the US. It’s about time we have our own national digital bank and empower our communities!”
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“Today is a significant moment for Paybby, as we launch our Regulation CF equity crowdfunding offering,” said Jack Marhofer, CFO of Paybby. “We’re excited to open up for our customers to participate in the equity crowdfunding investment of Paybby, and thus, extending, what we believe, will provide participation in disruptive change in the marketplace.”
The Wicket Mobile Banking by Paybby is available now in both Android and iPhone versions. Additionally, the company is a marketing agent for PPP loans targeting the black and brown communities. The company is committed to making the Black and Brown community aware of opportunities for getting financial resources such as faster access to tax refunds, SBA loans and other ways to get affordable banking products.
“Paybby offers smart banking to the Black and Brown communities. Paybby started by offering a bank account and a better way to expedite their PPP loans. Starting today, Paybby customers can invest in the equity crowdfunding of Paybby and own a piece of Paybby,” says Norville Barrington, VP of BD for Paybby. “Black buying power is projected to grow to $1.8 trillion by 2024. Brown buying power is over $2.0 trillion. Paybby wants to take a good portion of this multi-trillion dollar market and give it back to these communities.”
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The Black and Brown communities have been largely excluded from participating in the financial system. Less than 1% of venture capital goes to Black entrepreneurs. The historically long used sign “Non-whites need not apply” is still relevant in venture capital financing and the rest of the world of finance. Existing digital banks have done little for the Black and Brown communities, and Paybby wants to change that.
Wicket by Paybby is a smart digital bank personalized for each user. Wicket’s cutting edge Artificial Intelligence and biometric technology adds an extra layer of security using face and voice recognition for a more seamless and secure experience that is personalized to each user.
Aside from the no-fee, better banking opportunity, Paybby’s advantage is its cutting edge, blockchain and AI, “trust engine” that will uncover the complexities of the “banking black box” to improve the minority experience in the banking sector.
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