Ideanomics’ $25 Million Pledge to Support Minority and Underserved Communities
August 3, 2021 (Source) —
- Ideanomics Capital is investing $25 Million in the MDI Keepers Fund
- The investment will increase employment and business opportunities in underprivileged communities
- This is a continuation of Ideanomics’ commitment to make a difference in the markets we serve
Ideanomics (NASDAQ: IDEX), (“Ideanomics” or the “Company”), announced today that it has pledged $25 million to support minority and underserved communities, driven by the company’s continued environmental, social, and governance (“ESG”) commitment.
The $25 million investment is dedicated to the Minority Depository Institution (“MDI”) Keepers Fund sponsored by the National Bankers’ Association, an organization of minority-owned banks that aim to increase inclusivity in the financial services industry. Through the Keepers Fund, the investment will provide capital and resources primarily in low- and moderate-income areas. It will be used to grow a more skilled workforce, increase employment opportunities, and support businesses’ growth among minority banks and underserved communities.
This commitment is part of Ideanomics’ effort to disrupt the financial services industry. In addition to increasing transparency through innovative technologies, the company considers changing racial and gender inequity an imperative aspect of the transformation.
“Enabling financial empowerment has been the common thread for all businesses under Ideanomics Capital,” said Alf Poor, CEO of Ideanomics. “We are excited to join a network of progressive supporters of the MDI Keepers Fund. This is a proactive investment we are putting into communities that require the most disruption and transformation. We believe this fund will allow us to continue supporting diversity in our subsidiary businesses while maximizing the impact to these communities.”
“I am proud to stand with Ideanomics as they elevate minority-owned organizations and commit to change the composition of this industry,” said Raymond Davison, CEO of Timios, an Ideanomics subsidiary that provides nationwide title and settlement solutions. “Being one of the few African American CEOs in the industry, I empathize with the challenges faced by many minorities and underserved individuals – whether it is seeking better jobs and relatable mentors or gaining better access to financial tools and resources. At Timios we look for opportunities to make positive change and as a part of Ideanomics, we continue that effort on a broader scale. This is just the first step in our plan to make real and measurable change.”
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
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