The trusted technology partner to top financial institutions providing philanthropic expertise and best-in-class donor-advised fund enablement software and services
Ren, the trusted technology partner to top financial institutions and thousands of non-profit organizations, announced it has received a strategic growth investment from Bain Capital Tech Opportunities and Valeas Capital Partners. The investment, Ren’s first institutional capital to date, will be used to fund new product features, rapidly scale the team, support financial advisor and client awareness of donor-advised funds (DAFs), and expand Ren’s charity network. Financial terms of the private transaction were not disclosed.
Latest Fintech Interview: Global Fintech Interview with Jim Stickley, Chief Executive Officer at Mahalo Banking
“Bain Capital Tech Opportunities and Valeas bring deep experience in vertical software and wealth-tech and the resources needed to propel our next phase of growth. We are thrilled to partner to continue to provide a best-in-class technology offering to our customers.”
DAFs are the fastest-growing mechanism for charitable giving in the United States, enabling contributions in a simpler, easier, and more cost-effective manner. DAFs have grown from 7% of annual charitable contributions in 2017 to 15% in 2021, and represent more than $234 billion in Assets Under Administration.1
Based in Indianapolis, Ren is the leading independent partner of choice to power the top national DAF programs at blue-chip financial and non-profit institutions. The Company leverages more than five decades of philanthropic expertise to serve more than 200 customers and has built a network of over 140,000 charities.
Read More About Fintech Interview: Global Fintech Interview with Ralph Dangelmaier, CEO & Board Member at BlueSnap
“This is a significant inflection point in Ren’s growth, but more importantly, in the philanthropic economy. We see a clear opportunity to enhance our best-in-class platform so that we remain the trusted and most sought-after partner in facilitating philanthropic giving,” said Joe Fisher, President and CEO at Ren. “Bain Capital Tech Opportunities and Valeas bring deep experience in vertical software and wealth-tech and the resources needed to propel our next phase of growth. We are thrilled to partner to continue to provide a best-in-class technology offering to our customers.”
Ren has been a fundamental force for good within charitable giving. Since inception, Ren has processed over 10 million grants representing a total value of over $167 billion contributed to non-profits globally.
“It’s exceptionally rare to invest in a business with such strong capital efficiency that sits at the intersection of vertical software and a multi-sided network,” said Scott Kirk, a Partner at Bain Capital Tech Opportunities. “The most successful donor-advised fund programs have grown on the back of Ren’s technology and customer feedback has been effusive. Institutions that leverage Ren’s platform have on average grown their giving programs 45 percent year-over-year, nearly two times faster than the industry average,” added David Shaughnessy, a Principal at Bain Capital Tech Opportunities.
Browse The Complete Interview About Fintech: Global Fintech Interview with Marc Kuzak, Vice President of Legal at Yapily
[To share your insights with us, please write to sghosh@martechseries.com]
