Spiral’s charity banking app raises $ 14 million

Spiral, which has developed a banking solution for the charitable sector, today announced the completion of a $ 14 million financing round led by Team8, with the participation of Communitas Capital, Phoenix, Nidoco AB and MTVO, as well as senior financial executives. Spiral will use the new investment to launch a new ethical banking app that enables clients to easily support any charitable cause they care about while earning attractive rates and monthly cash rewards on their deposits. Spiral will match even their donation, to max. Nonprofits can use the app to share engaging content with supporters, increase donations, and raise funds without fees. The app is live and will be launched to the public in the next quarter. Spiral was founded by CEO and Fintech Entrepreneur Sean Melamed and President Dan Blumenfield. Melamed said: “The future belongs to socially conscious brands that care so much about giving back to society as much as they do profit and growth. Spiral plans to lead the ethical banking industry by creating a new ecosystem solution for more than 100 million charitable donors and 1.5 million non-profit companies. Not only does Spiral make it easy and interact with people to support the causes they care about, but we also reward them financially so that they can personally thrive. ” “People are increasingly supporting brands that align with their values. They expect a simple and intuitive user experience. Spiral will provide customers with a personal banking experience and a deeper connection with the charities they support,” added Blumenfield. “We are excited to support Spiral’s unique vision and its incredible growth potential. Brands like Tesla, Whole Foods and Lemonade have catalyzed specific demographics to become the top contestants in their industries,” said Sarit Veron, Managing Partner at Team8 Capital. Spiral is on a mission to do the same in the world of Banks. ” Posted by Globes, Israel business news – en.globes.co.il – on March 31, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021