Spiral, a startup based in New York, has raised USD 28 million to introduce its “Impact-as-a-Service” platform that will assist banks and fintechs in integrating sustainability and social impact into their operations.
The company received USD 42 million in funding as a result of the Series A round, which was co-led by Team8 and included Euclidean Capital, Intuition Fund, Communitas Capital, Phoenix, and Nidoco AB. Former tech executive Shawn Melamed of Morgan Stanley and former Skype head of product and growth Dan Blumenfeld are the creators of Spiral. Jim Rosenthal, a former COO of Morgan Stanley, has joined the board.
With 1.5 million charities, the company streamlines back-office operations, donation processing, compliance, and technical integrations.
Read More: Social impact fintech Spiral raises $28m for B2B pivot
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