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

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."

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Venmo Launches Gift-Wrapping Feature to Help its Community Celebrate Every Moment

- Today, Venmo introduced a new way for customers to gift money to friends and family for any occasion big or small through its new gift-wrapping feature. Beginning to roll out today, Venmo's latest feature gives customers access to eight unique and vibrant animated gift-wrap designs that can be added to a payment note.

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