Fintech platform Infinite Giving raised $2 million in a seed round led by Cubit Capital, Morgan Stanley, and Atlanta Ventures. The platform works with nonprofits and boards to manage and invest funds by combining donation page giving with cash management.
Infinite Giving, LLC is also a registered investment adviser.
“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,” CEO and co-founder, Karen Houghton said via a statement.
Before launching Infinite Giving in Atlanta, Georgia in 2021, Houghton was the vice president of the Atlanta Tech Village, a venture partner with Atlanta Ventures. She also founded a nonprofit supporting coffee-growing communities in Rwanda.
During the past 12 months, Infinite Giving has had a 99% customer retention rate with clients including Habitat for Humanity, Make a Wish, and World Relief leveraging its innovative fintech platform, according to a statement from the firm. Nonprofits can use Infinite Giving to manage cash reserves, grants, and capital campaigns, create and manage endowments, crowdfund micro endowments, and easily receive stock donations, according to the firm.
“We are excited to be part of this journey to help transform financing capabilities for the nonprofit industry,” Gui Hadlich, investor at Cubit Capital said via a statement. “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.”
Along with investment from venture capital firms, Infinite Giving was selected for Morgan Stanley’s 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.