Before taking the Venture Atlanta Stage next week, a local non-profit fintech startup Infinite gift announced that it had recruited a new group of investors.
The startup just closed a $2 million seed round led by Cubit Capital, Morgan Stanley and Atlanta Ventures. She also announced her participation in Morgan Stanley Inclusive Business Laban in-house startup accelerator run by the financial giant, and added Jay Love, founder of Bloomerang and nonprofit veteran with over 30 years of industry experience, to the startup’s board of directors.
Seed funding remained slow during 2024with fewer founders able to secure venture capital dollars. Karen HoughtonCEO of Infinite Giving, said the fundraising process helped the team focus on what was important for the company’s future.
“I’m not sure any founder would say they enjoy the fundraising process. But the work and the journey are good: they refine your message, spark your vision and bring you to the right strategic partners. We have been incredibly intentional in creating a board and capital table with positive, influential leaders who deeply understand and support our work,” she told Hypepotamus.
Infinite Giving started in 2021 when Houghton, former vice president of Atlanta Tech Village, saw a gap in the market for how nonprofits receive donations, manage their cash reserves and invest . The platform’s all-inclusive donations page helps educational, religious and philanthropic charities easily request and receive donations in the form of cash, stocks, cryptocurrencies, DAF grants and endowments.
Since its launch, the startup has attracted an impressive roster of users, including Habitat for Humanity, Make a Wish, World Relief, Venture Atlanta, Endeavor Atlanta, and FinTech Atlanta. And the startup has recorded an impressive customer retention rate of 99% over the last twelve months.
This is an impressive and envious number for any startup looking to gain traction and for its product’s early evangelists.
When asked how the startup was able to build customer loyalty at such a high rate, Houghton told Hypepotamus that the team had a “deep understanding of nonprofit finance and was able to solve many unique problems that it faces in the financial sector. An award-winning platform, quality relationships, and excellent customer service mean that once nonprofit leaders and boards experience Infinite Giving, they won’t want to be anywhere else.
Following the funding round announcement, Houghton is preparing to present Infinite Giving in front of more investors at next week’s Venture Atlanta.
“We enter Venture Atlanta in a great position for growth and without a pressing timeline,” Houghton added. “This allows us to share our mission, work with more nonprofits, and build relationships for future funding rounds.”