Backed by PayPal founder Max Levchin, fintech company HMBradley offers a hybrid savings and checking account and brags that it has an interest rate up to 3%.

The model has proved popular and on Tuesday, the Santa Monica-based digital banking platform HMBradley announced it has raised $18.25 million in Series A funding in a round led by Acrew Captial.

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PayPal Holdings, Inc. announced Thursday it will be transferring money to two L.A. firms as part of a $50 million commitment to eight early-stage, Black and Latinx-led venture capital funds.

Slauson & Co., the new fund from PledgeLA chairman Austin Clements focused on people of color, women and LGBTQ+ entrepreneurs; and VamosVentures, the Latinx consumer-focused, early-stage fund founded by Marcos Gonzalez, are both receiving undisclosed investment amounts.

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As one of the founding fathers of the L.A. tech scene, Brian Lee is used to having entrepreneurs pitch him on ideas. What does he look for? It's not so much a business plan or even an idea. He says he goes off a vibe.

That's how he ended up being the first investor in the deal-finding browser add-on Honey, which was bought late last year by PayPal for $4 billion in what ranks as the biggest acquisition L.A. has seen to date.

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