Spinwheel, an Oakland, CA-based platform that lets companies embed consumer debt solutions in their applications, raised $11m in funding.
The round was led by QED Investors with participation from Core Innovation Capital, Fika Ventures, and Firebolt Ventures.
The company intends to use the funds to accelerate sales, marketing and new product development that will expand its offering.
Founded by Tomas Campos and Tushar Vaish in 2019, Spinwheel is a modern loan infrastructure startup for Americans to get out of debt sooner by making it possible to embed the application, payment and management of loans into the apps people use the most.
Youngstown debt management company Spinwheel raises $11 million
Youngstown debt management company Spinwheel raises $11 million
A Youngstown financial services company has secured $11 million in funding, according to a news release.
Spinwheel, a Youngstown Business Incubator portfolio company, just announced the close of a funding round for its consumer debt management platform. The company was founded in 2019 by Tushar Vaish and Tomás Campos after Campos saw how student debt affected members of his family, the release stated.
The funding was led by QED Investors, the release stated, with participation also coming from Core Innovation Capital, Fika Ventures and Firebolt Ventures.
It will be used to help the company grow its team, scale its product roadmap and expand to other debt categories like mortgages.
Spinwheel Announces $11M in New Capital for Consumer Debt API Infrastructure Platform to Better Manage and Pay Consumer Debt within Applications
QED Leads Investment to First Improve Student Debt Solutions
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OAKLAND, Calif., May 7, 2021 /PRNewswire/
Spinwheel, the platform that lets companies embed consumer debt solutions in their applications, today disclosed fundraising of $11 million led by QED Investors with participation from Core Innovation Capital, Fika Ventures, and Firebolt Ventures.
Spinwheel is a modern loan infrastructure startup that helps Americans get out of debt sooner by making it possible to embed the application, payment and management of loans into the apps people use the most. By increasing access, choice, and transparency, Spinwheel aims to improve outcomes and shorten the debt lifecycle for all borrowers and their loved ones. It has already partnered with a number of leading brands, and plans to use its funding to acce
Operator
Good day, ladies and gentlemen, and thank you for standing by. Welcome to SuRo Capital s first-quarter 2021 earnings call. [Operator instructions] This call is being recorded today, Wednesday, May 5, 2021. I will now turn the conference over to today s speaker, Adam Bates of SuRo Capital.
Please go ahead.
Chief Financial Officer
Thank you for joining us on today s call. I am joined today by the chairman and chief executive officer of SuRo Capital, Mark Klein; and chief financial officer, Allison Green. Please note that a slide presentation that corresponds to today s prepared remarks by management is available on our website at www.surocap.com under Investor Relations, Events and Presentations. Today s call is being recorded and broadcast live on our website www.surocap.com.
Fintech Startup SeedFi gets $15M boost from Andreessen Horowitz-led group
SeedFi, a financial health startup designed to help Americans build credit, save money, access funds, and plan for the future, launched today and announced it has raised $15 million in Series A funding and $50 million in debt.
The $15M round was led by Andreessen Horowitz, with participation from Flourish, Core Innovation Capital, and Quiet Capital. Andreessen Horowitz general partner Angela Strange will join the SeedFi board of directors and Flourish Ventures managing partner Emmalyn Shaw will join as a board observer. The company has raised a total of $69 million in funding and will use the new capital to build out its product suite and grow its customer base.