/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.

Spiral raises $14m for charitable giving banking app

Spiral, an "ethical banking app" that makes it easy for users to give to charities, has raised $14 million in a funding round led by Team8.

  2 Be the first to comment

Spiral raises $14m for charitable giving banking app

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Communitas Capital, Phoenix, Nidoco AB and MTVO joined the round for New York-based Spiral, which says it want to make it easier for Americans "to do good".

The startup says its app will make it effortless to give to charities and non-profits, with automatic donation reports for tax returns and donation matching of up to $150 a year.

Nonprofits that partner with Spiral can receive donations without any fees and share content directly through the app to engage supporters. The app also connects to social media, so Spiral customers can promote the causes they support and the donations they make.

Users also get deposit accounts issued by a banking partner, spending, saving and giving rewards, attractive rates, and monthly cash bonuses on their deposits.

Spiral is the brainchild of former Morgan Stanley tech executive Shawn Melamed and ex-Skype head of product and growth Dan Blumenfeld. Former Morgan Stanley COO Jim Rosenthal has joined the board.

Says Blumenfeld: "People are increasingly supporting brands that align with their values. And they expect a simple and effortless user experience. Spiral will offer customers both a personalised banking experience and a deeper connection to the charities they support.”

Sponsored [Impact Study] 2024 Fraud Trends in Banking, Insurance, and Beyond

Comments: (0)

New Report – The Future of AI in Financial Services 2025Finextra PromotedNew Report – The Future of AI in Financial Services 2025