PayPal Builds Multiple Partnerships to Mentor and Recruit Black and Diverse Talent

PayPal Holdings, Inc. (Paypal) announced that it has entered into multi-year partnerships with CodeHouse, INROADS and the National Association of Black Accountants to develop and hire Black and diverse talent. The partnerships are part of a $535 million commitment first announced in June that includes strengthening PayPal's internal Diversity, Inclusion, Equity and Belonging programs and supporting the recruitment, hiring and career advancement of Black and underrepresented employees.

"PayPal's mission to democratize financial services is inherently inclusive, and not only promotes, but demands diversity and equity," said Tracy Brown, global head of talent, PayPal. "Each of these organizations is dedicated to creating career pathways for people of color, and working together, we can build a pipeline that sustainably increases recruitment and retention of underrepresented talent at PayPal." 

Since becoming an independent company in 2015, PayPal has worked with academic institutions, recruiting organizations and advocacy groups to attract, develop and retain diverse talent. These partnerships will expand PayPal's pipeline of talent and provide development, mentoring and skill building opportunities: 

· CodeHouse: CodeHouse aims to tackle the diversity gap in the technology industry. As a founding partner of the CodeHouse Scholars Initiative, PayPal will provide four-year undergraduate scholarships to historically Black colleges and universities and offer technical, professional and leadership skills to incoming freshman through their Summer Bridge Program. Paypal will also participate in their Virtual Tech Exposure Day with 10,000 high school students of color across the country. 

· INROADS: PayPal will work with INROADS, the nation's largest nonprofit source of paid internships for diverse, high performing undergraduate students, to sponsor an internship program. 

· National Association of Black Accountants (NABA): For more than 50 years, NABA has continued to bridge the skills and opportunities gaps for Black professionals in the business, accounting and finance industry. PayPal will expand its existing partnership with the association to create a student scholarship fund. Additionally, Paypal will sponsor a college internship program and mentor and recruit talent from within the NABA student membership population. 

These efforts are representative of a larger commitment PayPal has made to further embed the principles of diversity, inclusion, equity and belonging into the company culture and business. In addition to these partnerships, PayPal is strengthening its inclusive hiring process by implementing practices that help mitigate conscious and unconscious biases and blind spots throughout the hiring process. 

"Through our partnership with PayPal, we'll be able to enhance our scholars' existing talent and set them up to succeed in their careers," said Ernest Holmes, president and co-founder, CodeHouse.   

"INROADS is pleased to partner with PayPal in an effort to close the disparity and opportunity gaps for talented, underrepresented students," said Forest T. Harper Jr., president and CEO, INROADS. "When we work together, PayPal and INROADS can advance racial equity, creating a new tomorrow where our Black and diverse students have access to opportunities that create boundless career pathways for them to become future leaders and entrepreneurs."

"This partnership serves as a testament to PayPal's belief in NABA's ability to develop a pipeline of talented Black business professionals who can contribute to PayPal's strategic success," said Guylaine Saint Juste, president and CEO, NABA.  

Since June, PayPal has continued to fulfill its $535 million commitment. Most recently, PayPal bolstered its support of Black small business owners by providing an additional $5 million in grant funding. In fall 2020, PayPal invested $50 million in the Local Initiatives Support Corporation (LISC) Black Economic Development Fund, $50 million in the Black-owned Optus Bank and $50 million in eight early-stage, Black and Latinx-led venture capital funds.