Ahead of taking the Venture Atlanta stage next week, local nonprofit-focused fintech startup Infinite Giving announced it has brought on a new group of investors.
The startup just closed a $2 million seed round led by Cubit Capital, Morgan Stanley, and Atlanta Ventures. It also announced it will be participating in Morgan Stanley’s Inclusive Ventures Lab, an in-house startup accelerator run by the financial giant, and has added Jay Love, Founder of Bloomerang and a nonprofit veteran with 30-plus years of industry experience, to the startup’s board.
Startup funding has remained slow over the course of 2024, with fewer founders able to secure VC dollars. Karen Houghton, Infinite Giving’s CEO, said that the fundraising process helped the team focus on what was important for the business moving forward.
“I’m not sure any Founder would say they love the fundraising process. But, the work and journey is good – it refines your messaging, sparks your vision, and brings you to the right strategic partners. We have been incredibly intentional about building a board and cap table with positive, influential leaders who deeply understand and support our work,” she told Hypepotamus.
Infinite Giving got off the ground in 2021 when Houghton, previous Vice President at Atlanta Tech Village, saw a gap in the market around how nonprofits receive donations, manage cash reserves, and invest. The platform’s all-inclusive donation page helps educational, religious, and philanthropic charities easily ask for and receive donations in the form of cash, stocks, cryptocurrency, DAF grants, and endowments.
Since launching, the startup has attracted an impressive list of users, including Habitat for Humanity, Make a Wish, World Relief, Venture Atlanta, Endeavor Atlanta, and FinTech Atlanta. And the startup has seen an impressive 99% customer retention rate over the last twelve months.
That is an impressive and envious number for any startup looking to gain traction and early evangelists of their product.
When asked about how the startup has been able to retain customers at such a high rate, Houghton told Hypepotamus that the team has a “deep understanding of nonprofit finance and are able to solve many of the unique pain points they face in the finance industry. An award winning platform, quality relationships, and excellent customer service means once nonprofit leaders and boards experience Infinite Giving – they don’t want to be anywhere else.”
Following the seed round announcement, Houghton is preparing to present Infinite Giving in front of more investors at next week’s Venture Atlanta.
“We are entering Venture Atlanta in a nice position of growth and without an urgent timeline,” Houghton added. “This allows us to share our mission, work with more nonprofits, and build relationships for future funding rounds.”
