Agility Bank in Houston exceeded the amount of capital regulators required it to raise.
Organizers said in a press release that they brought in $41 million in capital – exceeding the $30 million they were instructed to raise. More than 350 investors, majority female, participated in the capital raise.
Agility, which opened in May, is a minority depository institution formed to focus on women.
“This incredibly successful capital raise speaks to our investors’ commitment to address the gender gap by building more equity and access to capital for women and minority businesses,” Lauren Sparks, Agility’s founder and CEO, said in the release.
“These investors truly believe in our mission of providing products and services, along with savvy bankers, to enable small and midsize businesses to thrive, particularly those owned by women,” Sparks added.