Why This FinTech Founder Believes ‘Entrepreneurship Is the New Street Hustle’

The tagline for his life’s story reads: “From crack, to rap, to tech.” Divine is a hip-hop entertainer, turned tech entrepreneur. He is preparing to launch his startup’s first product–the BLAK card–a pre-paid debit card designed to help the under-banked or un-banked.

Divine sat down with Black Enterprise to talk about how he emerged from a 10-year prison sentence for dealing drugs, to befriending venture capitalist Ben Horowitz and founding his own financial tech startup.

“My company is BLAK Fintech. BLAK is an acronym that stands for Building Leverage; Acquiring Knowledge. We build affordable, tech-driven, personal financial and banking products,” Divine explains.

In early 2017, the company is set to release the BLAK card, a pre-paid Visa debit card attached to a real bank account that enables a user to build credit. Although the product sounds suspiciously similar to another hip-hop-star-turned-mogul’s venture (Russell Simmons’ Rush card), Divine says there are differences between the two products.

“[The BLAK card] is totally different from the Rush card. The Rush card only targets the under-banked, not the un-banked. [The Rush card] uses a third-party provider; we actually own the technology,” he says.

“Additionally, we have a social impact component that consists of financial literacy and entrepreneurship education.”

From Surviving to Living

 

Divine emphasizes the company is not marketing the BLAK card as a “poor person’s card.” Instead, he sees the product as one for the “urban entrepreneur.”

“We know a lot of people in our urban African American communities are very innovative; very creative, because they are survivalists,” he says.

“We are able to present a product that takes them from a survival mindset, to a living mindset. We don’t just want to survive. I want to live. I want to be able to take vacations, have a 401k; have a nest egg. Be able to pass on generational wealth instead of generational debt.”

The BLAK card is the embodiment of Divine’s aspirations for economically empowering people in urban areas. He knows, firsthand, the needs of these communities, because, as he states, “I am that demographic.”

Raised in Brooklyn by a former crack cocaine-addicted mother, he turned to the streets; surviving as a drug dealer. As a result, he spent 10 years in lockup, but while incarcerated, read an article that would change the course of his life.

“I came across an article about Ben Horowitz.” Horowitz is a venture capitalist and co-founder of Andreessen Horowitz, one of the top and most influential investment firms in the country.

Divine was intrigued not only by Horowitz’s success, but by the venture capitalist’s love for hip-hop and rap; a music passion both of them share. After his release, Divine sought out Horowitz via social media, expressing how much he related to a blog post Horowitz wrote, Legend of the Blind MC.

One thing led to another, and Divine ended up not only friends with Horowitz, but also with his equally influential wife, Felicia.

“I always say, Ben opened the door for me, and Felicia ushered me in,”

he says. “I was doing a Kickstarter at the time, to raise money for my album.” The Horowitzes helped Divine raise the funding ($7,000) for his music, and he dropped the album Ghetto Rhymin in 2014.

The Journey to Tech Entrepreneur

 

His friendship with the Silicon Valley power couple led to serious connections in the tech industry. He landed a gig as an intern and entrepreneur-in-residence at Karmaloop in 2015–an e-commerce company founded by serial entrepreneur, Greg Selkoe.

That experience fomented the idea of the BLAK card. Divine hooked up with a fintech expert, René Bäbi, and received an extensive education on the technology. Thus, BLAK Fintech was born.

With Selkoe on board as his CMO, Divine connected with one of the oldest African American-owned banks, M&F Financial (on the BE 100s list for largest, black-owned banks), putting the necessary parts and people in place for his new startup.

Divine says he is already exploring other products and services, to follow the launch of BLAK card. “We do payment processing as well, so we’re going to reach into the online and mobile payment category; micro-loans; and a full-fledged credit card,” are some of the other planned services.

Despite his struggles and successes, plus determination to uplift his life from one as a convict, turned rapper, turned tech entrepreneur, Divine attributes his ascension into the tech world to his serendipitous discovery of Ben Horowitz.

“I know I am getting a lot of attention because of Ben. A lot of the connections I met are indirectly related to Ben.” However, he also says, “Ben didn’t hold my hand; he helped when he could, but I never bothered him for anything.”

He mentions a recent meeting in Silicon Valley with the Horowitzes about his startup. “They are 100% supportive of me,” says Divine. “I left Silicon Valley with a smile on my face.”

For now, music is on the back burner as he focuses on BLAK Fintech. “Music is my number one love. But, I’ve never seen it as a way to financially sustain myself.”

“In the streets, I did that with drugs. I never focused on music as a way to make money. I thought music would be at the forefront of my life. But, after meeting Ben Horowitz, with technology I see something greater. Entrepreneurship is the new street hustle.”