In addition to the investment, the leading fintech platform for nonprofits was accepted to Morgan Stanley’s Inclusive Ventures Lab, and will present at Venture Atlanta 2024.
Infinite Giving, the only proprietary fintech platform exclusively serving nonprofits, announced today that the company has raised $2 million in a seed round led by Cubit Capital, Morgan Stanley, and Atlanta Ventures.
“At Infinite Giving, we are driven by a singular focus to create value through financial stewardship for an underserved nonprofit industry,” said CEO and co-founder, Karen Houghton. “Our belief is if there are more sustainable nonprofits, then the better our communities and the world will be, so we’re helping to amplify their good work by protecting their most precious resources: time and money.”
Before launching Infinite Giving in 2021, Houghton was the Vice President of the Atlanta Tech Village, a Venture Partner with Atlanta Ventures, plus founded a nonprofit supporting coffee-growing communities in Rwanda. This inherent understanding of the financial needs of nonprofit organizations coupled with the knowledge of operating technology companies has Infinite Giving well-positioned for its growth.
In the last 12 months, Infinite Giving has witnessed a 99% customer retention rate with clients including Habitat for Humanity, Make a Wish, and World Relief leveraging its innovative fintech platform. Nonprofits including educational, religious, and philanthropic charities can use Infinite Giving to manage cash reserves, grants, and capital campaigns, create and manage endowments, crowdfund micro endowments, and easily receive stock donations.
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“We are excited to be part of this journey to help transform financing capabilities for the nonprofit industry,” said Gui Hadlich, Investor at Cubit Capital. “We invest in companies promoting human flourishing, and we believe Infinite Giving will equip nonprofits to serve their communities even better. Their traction over the last year is exactly what we look for when investing in early-stage companies.”
Infinite Giving’s growth also comes with a new board member addition of Jay Love, Founder of Bloomerang and a nonprofit veteran with 30-plus years of industry experience. “The growth that Infinite Giving has seen demonstrates the problem they’re solving for nonprofit leaders who need innovative solutions to maximize their organization’s financial resource management,” Love said. “I’m honored to officially join Infinite Giving’s mission and help with our strategic market expansion in the philanthropic world.”
Along with investment from venture capital firms, Infinite Giving received funding from Morgan Stanley and was selected for its Inclusive Ventures Lab, which provides tech and tech-enabled startups access to capital, resources, and connections to further develop and scale their companies. The Lab’s mission is to help advance a more equitable investment landscape.
“I am excited to collaborate with Infinite Giving at this important time in the company’s growth,” said Toan Huynh, Managing Partner with Alinea Ventures. “Karen and Connor are exceptional founders helping an industry in need of greater financial access and transformation.”
Rounding out this exciting time, Infinite Giving was selected from more than 630 startup applications (at only a 13% acceptance rate) to present at Venture Atlanta 2024. Taking place on Oct. 8-9, Venture Atlanta is the Southeast’s top tech conference dedicated to bringing innovative companies, disruptive technologies, and top-tier investors together. Infinite Giving is one of the only companies presenting with technology that was specifically designed for a nonprofit product-market fit.
“It’s inspiring to see Infinite Giving empower nonprofits with the tools they need to better manage their financial resources,” said David Cummings, CEO and Founder of Atlanta Ventures. “I believe in the company’s mission and am eager to see the incredible impact they’ll make with this next phase of growth.”
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