Published June 21, 2023
Buffalo Inno, Buffalo News, and others reported that Buffalo-based startup Arbol has raised $250,000 in the first leg of a pre-seed investment round.
The round was led by the Western New York Impact Investment Fund, which invested $100,000. The University at Buffalo's Buffalo Innovation Seed Fund contributed $250,000, following a previous $100,000 investment through Arbol's participation in UB's Cultivator program.
As reported in Buffalo Inno, Arbol — a financial platform that helps colleges with retention of minority, first-generation college students through financial education, support, and incentives — is launching customers and scaling up. The pre-seed round will support the company's growth, including through product development, hiring new employees, and expanding to new customers and regions outside of Western New York.
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