Spiral, a New York-based startup providing an Impact-as-a-Service platform, raised $28M in Series A funding.
The round, which brought total funding to $42M, was led by Team8 with participation from Euclidean Capital, Intuition Fund, Communitas Capital, Phoenix, and Nidoco AB.
The company intends to use the funds to launch its platform and expand its offerings to financial institutions across the U.S., including banks, credit unions, and fintech companies.
Founded in 2019 and led by CEO Shawn Melamed, Spiral is a provider of an Impact-as-a-Service platform that helps banks, credit unions, and financial institutions embed sustainability, social impact, and ESG into their core businesses and amplify their community impact and customer engagement.
Spiral helps banks and credit unions increase revenue through higher engagement and increased spending with their cards and create socially responsible debit cards, credit cards, accounts, and payment products. In addition, it handles all the required underlying back-office operations, donation processing, compliance, and technical integrations with charities. With Spiral, banking customers at all income levels can make an impact through everyday purchases, round-up card transactions, monthly charitable giving subscriptions, and tax-deductible donor-advised funds for long-term charitable giving.
Spiral simplifies back-office operations, donation processing, compliance, and technical integrations with 1.5 million charities to allow banks and financial institutions to empower hundreds of millions of customers and businesses to contribute to a better world.
FinSMEs
28/03/2023