Overflow – a company redefining generosity through innovative financial solutions – announced the successful closure of its $20 million Series B funding round. Wesleyan Investment Foundation led the strategic round, and existing investors, including Uncork, R7, and TheGP joined them.
Overflow empowers churches, nonprofits, and donors by creating products that make giving frictionless and elevated through cash and non-cash giving. And the company aims to inspire the world to give by revolutionizing charitable giving and democratizing innovative financial solutions to the philanthropic sector.
Overflow’s pursuit involves making charitable giving seamless and secure while also saving their customers money. And the new funding round will enable Overflow to scale towards its wider mission of becoming the financial operating system for the faith space and beyond.
Given its origins, Overflow is positioned to fulfill its vision of redefining generosity for the digital age. And since its inception, Overflow has been committed to transforming the giving landscape with an initial mission of introducing the sector to seamless stock donations, the most underutilized yet highest-leverage fundraising avenue.
Overflow bridged the gap between charitable organizations and their donors through this work. And the platform’s innovative approach has seen an average stock donation of $12,979, which is a staggering 100 times larger than the national average cash donation. This platform boasts over 240,000 users and is on track to eclipse 1 million this year.
Overflow did not stop with stock donations though. And now, in under four years, it boasts the most comprehensive giving solution in the industry, including ACH, Card, Stock, DAF, Wills, Crypto, Apple Pay, Venmo, CashApp, Google Pay, and PayPal, giving all through one ‘easy button’ integration.
Overflow’s commitment to serving churches, nonprofits, and donors attracted over 450 leading organizations to its platform. And entities like the Golden State Warriors Community Foundation, Church of the Highlands, VOUS, Zoe Church, The Belonging Co, VIVE, Reality SF, and Convoy of Hope are among the prominent names benefiting from Overflow’s disruptive technology.
KEY QUOTES:
“With this latest round of funding, we are now positioned to expand beyond our core giving solution to new product areas such as spend management – a sort of ‘Brex for Churches.’ Our goal is to establish a full financial suite of solutions to save church and nonprofit finance teams time and money. Additionally, being able to consolidate an organization’s financial activity into one platform allows for greater access to actionable insights and opportunities for additional financial products like growth lending.”
- Vance Roush, Founder and CEO
“The Wesleyan Investment Foundation has a long 78-year history of serving the financial needs of churches which act as the backbone of communities. Overflow is deeply aligned with that mission and empowers so many churches, nonprofits, and other charitable organizations as well as the communities they serve. As the financial needs of churches shift to meet tomorrow’s opportunities, we’re excited to combine the strength of WIF’s balance sheet with Overflow’s innovation.”
- Norwood Davis, president at Wesleyan Investment Foundation
