Aequo to use R3 Score’s Technology for All Applicants
BALTIMORE, MD, May 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Global Boatworks Holdings, Inc. (OTC: GBBT) ("Global" or "the Company"), an innovative provider of better-contextualized data to businesses for the 1-in-3 Americans living with a criminal record, and consumers with thin credit files, today announces it has entered into a new partnership with Aequo Fund.
The Aequo Fund is an initiative developed by SAA | EVI, a real estate development firm led by GBBT Board Member Ernst Valery, launched to increase diversity in real estate development for Baltimore, MD; Philadelphia, PA; Buffalo, NY; Richmond, VA; and, Portland, ME.
“When we met the team at SAA | EVI and Mr. Valery, I knew that we would have several opportunities to work together as we view the market opportunity from the same vantage point - it is good business to do business with all qualified candidates. And as a Baltimore, MD-based company we are deeply committed to contributing positively to our community. The proposition to learn how to become a real estate developer, having access to mentorship and capital is a game-changer so for the Aequo Fund to make this available for women, immigrants as well as Black and Brown hopeful developers is a mission we couldn’t wait to support, “ said Laurin Leonard, CEO of GBBT.
In this partnership, the Aequo Fund has signed on as a business customer of R3 Score and will use R3 Score’s technology for all applications to the Fund. This means that SAA | EVI is committed to providing opportunities to people living with records who might otherwise qualify but might be apprehensive about applying for the program due to their criminal history. As a data vendor that has national reach, R3 Score is excited to play a part in increasing the stock of affordable housing, contributing to the increased diversity of real estate developers in Baltimore, Philadelphia, Buffalo, Richmond, and Portland.
Mr. Valery is an award-winning developer and through the Aequo Fund, his team will invest over $6.5 million in real estate development projects in the stated footprint. “It’s easy to make corporate promises and public statements about equity and inclusion - totally different to actually deliver investment - we are in the business of standing up for what is right and delivering capital for the effective majority of most major American Cities - women - black - brown and immigrant citizens — taking a knee and punting is not a viable path forward.”
About Global Boatworks Holdings, Inc. and R3 Holdings, Inc.
Global completed a definitive Share Exchange Agreement with Baltimore, Maryland-based R3 Technologies, Inc. on September 23, 2020. R3 Holdings, Inc. is a SaaS company that provides a more contextualized criminal background report and alternative credit score for use by businesses of all sizes and in every industry.
R3’s AI-enabled, financial software platform uses proprietary data-driven scoring designed to unlock new valuable information about employees and financial services consumers utilizing a multi-factor algorithm based on 11 factors assessing character, capacity, and current choice.
About SAA | EVI - The Aequo Fund
“Aequo” is Latin, meaning ‘to make equal’ and The Aequo Fund levels the real estate and community development field by providing capital to emerging, black, brown, women, and immigrant developers to produce positive race and wealth equity outcomes and neighborhood reinvestment in American cities. The Fund recruits emerging developers (“Founders”) and invests in small-scale projects in urban neighborhoods.
Aequo and Founders subscribe to a ‘development without displacement’ ethic to build value in American neighborhoods but not drive people from their homes or extract value from the communities in an exploitative fashion. Aequo focuses on currently vacant properties and coordinates investments with broader community-based strategies. Aequo’s vision is an army of mission-driven, black, brown, and women developers reshaping how development is undertaken, by who, and for whom.