Video Interview

SoLa Impact a leading minority-led housing developer, today 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 brown neighborhoods," said Martin Muoto, Chief Executive Officer, SoLa Impact. "We are excited to add PayPal to our cohort of leading corporate investors with a strong commitment to driving long-term transformative change and addressing economic inequality in historically underserved communities."

SoLa Impact's model has been disrupting the affordable housing sector by leveraging private capital, instead of government funds, to meet the extremely high demand for high-quality affordable housing in California's urban markets. With more than a decade of demonstrated results in several of Los Angeles's lowest-income neighborhoods, SoLa Impact has taken a unique approach to social impact—combining access to affordable housing with access to education, capital, and ownership to uplift Black and Latinx communities.

"Our investment in SoLa Impact's Black Impact Fund is part of our ongoing focus on sustained engagement and progress in areas of economic equality and social justice," said Aaron Anderson, Senior Vice President and Treasurer, PayPal. "Affordable housing is key to building financial health and we are committed to doing our part to break the cycle of inequality by partnering with SoLa Impact, an organization that is creating high-quality affordable housing, while creating economic opportunities in historically overlooked communities."

The Black Impact Fund, SoLa Impact's fourth fund, is already deploying capital in Southern California as the state faces a desperate need to confront its homelessness epidemic. With an existing portfolio of over 1,500 housing units, SoLa Impact is currently in development on an additional 1,500 affordable housing units and plans to add another 4,000 units in California over the next two years making SoLa Impact one of the nation's largest Black-led developers and operators.

Beyond housing, SoLa Impact's extensive social programs provide practical solutions to addressing racial inequality by equipping tenants with vocational training, financial counseling, scholarships, and pathways to homeownership and self-sufficiency. SoLa recently opened the doors of its Technology & Entrepreneurship Center and announced a partnership with Riot Games to provide students with free education and training to inspire the next generation of Black and brown tech leaders and entrepreneurs.

About SoLa Impact
SoLa Impact is a family of real estate funds with a double bottom line strategy focused on preserving, rehabbing, and building high-quality affordable housing in Black and brown communities.  SoLa's proven track record leverages data-driven social impact strategies to deliver strong financial returns. SoLa Impact's fourth fund, the Black Impact Fund , is part of an initiative to invest over $1 billion in affordable and workforce housing and related social impact strategies across urban cities in California.

SoLa Impact was ranked as the 7th fastest-growing minority-led private company on Inc. Magazine's Inc500 list and was also recognized by Forbes Magazine and the Sorenson Impact Center as the leading urban Opportunity Zone fund in the country . SoLa Impact's funds have attracted a number of leading investors seeking yield while also committed to Diversity & Inclusion and delivering impact through ESG initiatives.

SoLa Impact Media Contact:

Black Impact Fund:

Karen Lewis
(323) 424-9400

Felicia Allen
felicia@solaimpact.com

karen@goingpublicpr.com


Cision View original content: https://www.prnewswire.com/news-releases/sola-impacts-black-impact-fund-receives-25-million-investment-from-paypal-to-address-racial-equity-through-affordable-housing-301463531.html

SOURCE SoLa Impact; PayPal Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

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PayPal Acquires TIO Networks

Core Innovation Capital and the Center for Financial Services Innovation has announced that their portfolio company has been acquired by PayPal (NASDAQ:PYPL).
As quoted in the press release:

CFSI, the nation’s authority on financial health, made an early investment in TIO Networks in 2005. Core, a venture capital firm investing in leading financial technology companies, invested in TIO in 2013 as part of their mandate to create value for everyday and underserved Americans.
TIO is a cloud-based multi-channel bill payment processor that has processed over $7 billion in payments in 2016 for its 14 million customers. The company delivers convenient access to secure bill pay via kiosk, walk-in, mobile and web solutions.
“Our exceptional financial return is further enhanced by the fact that TIO is one of the most impactful fintechs in the industry, now becoming part of PayPal,” said Arjan Schütte, founder and managing partner of Core.
“PayPal’s acquisition of TIO represents one of CFSI’s greatest impacts to date,” said Jennifer Tescher, founder and CEO of CFSI. “In TIO, we made an early investment that helped a strong innovator become a financial health champion, and the company has built an incredible business around a real consumer pain point, shaped it, and demonstrated that it can be done profitably. Under the larger umbrella of PayPal, TIO should scale even further to benefit more Americans.”
Seventy-nine percent of TIO’s customers are low-to-moderate income, of which a majority pays their bills by giving cash to a teller at a convenience or other retail location. One of the reasons both CFSI and Core invested is that these bills, when expedited, can be extremely expensive. When Core invested in 2013, TIO saved its customers $192 per year on walk-in bill pay charges, relative to the most common alternatives in the market. This translates to an aggregate savings of $290 million in that year alone. TIO is one of the most impactful companies in Core’s portfolio in terms of number of customers served and ratio of underserved customers.

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CEO of Bitcoin Wall Provider Xapo Joins PayPal's Board of Directors

CEO of bitcoin waller provider Xapo has joined PayPal (NASDAQ:PYPL) as a new board member.
Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member.
 
According to an article on Fortune:

Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member. Payments giant PayPal announced a new board member this morning, potentially signaling the company’s openness to cryptocurrencies. Wences Casares, CEO of bitcoin wallet provider Xapo, joined PayPal’s board and is part of the company’s compensation committee.
Dan Schulman, president and CEO of PayPal PYPL 2.49% , said of the entrepreneur: “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”

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TIMIA Capital Announces First Quarter 2022 Financial Results

TIMIA Capital Announces First Quarter 2022 Financial Results

~ TIMIA delivers significant Q1 revenue growth with further growth planned~

Timia Capital Corporation (" TIMIA " or the " Company ") (TSXV: TCA) (OTCQB: TIMCF), a leading innovator in specialty private credit, is pleased to report consolidated interim financial results for the first quarter ended March 31, 2022 . All figures are reported in Canadian dollars unless otherwise noted.

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Intuit Reports Third Quarter Results and Raises Full Year Revenue and Operating Income Guidance

Organic online ecosystem revenue grew 31 percent

TurboTax Live revenue expected to grow approximately 30 percent to $1 billion in fiscal 2022

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PayPal Announces Expiration and Results of Debt Tender Offer

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the expiration and results of its previously announced offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the "Notes"). Each reference to an "Offer" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the "2022 Notes") or the 1.350% Senior Notes due June 2023 (the "2023 Notes"), as applicable.

The Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as amended or supplemented from time to time, the "Offer to Purchase"), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

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PayPal Announces Pricing of Debt Tender Offer

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the pricing of its previously announced offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the "Notes"). Each reference to an "Offer" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the "2022 Notes") or the 1.350% Senior Notes due June 2023 (the "2023 Notes"), as applicable.

The Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as may be amended or supplemented from time to time, the "Offer to Purchase"), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

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IMG Announces Programming for MADE x PayPal, a Two-Day Event Curated By Public School Celebrating Fashion, Culture and Community in New York City

MADE x PayPal will take place June 24 and 25 at St. Ann's Warehouse in Brooklyn Bridge Park and showcase a wide array of emerging and diverse talent across fashion, music and the arts

MADE x PayPal announces its programming schedule for the two-day fashion experience taking place June 24-25, 2022 at St. Ann's Warehouse in Brooklyn Bridge Park in New York City . Curated by Dao-Yi Chow and Maxwell Osborne of Public School , MADE x PayPal will bring the NYC community together to celebrate a diverse group of emerging creatives and local small businesses. Highlights include fashion shows, performances, DJ sets and special appearances by Nas, Parris Goebel Heron Preston, among others. Elsa Majimbo will serve as MADE x PayPal's official correspondent. MADE x PayPal, produced by IMG FOCUS ., will be open to the public, and guests can register for free tickets on the event website at Ma.de .

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FIS is Building the Bridge to the Metaverse: Tips for the New Digital Frontier

Key facts

  • At its annual FIS Emerald client event, FIS launched its metastore allowing attendees to get hands on experience with transactions in the metaverse.
  • Initiative supports FIS' leadership role in creating the bridge from physical to digital which includes working with cryptocurrency exchanges and all forms of money movement technology to enable shopping and other transactions.

The metaverse is opening a new frontier of opportunities in the digital economy. As a financial technology leader, FIS ® (NYSE: FIS) is creating a bridge from physical to digital and looking to enhance customer experience for businesses that are innovating in this nascent market.

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