Vennfi Raises $2.3 Million Ahead of Charityvest Platform Expansion Vennfi Raises $2.3 Million Ahead of Charityvest Platform Expansion
Vennfi Charityvest logos

Vennfi Raises $2.3 Million Ahead of Charityvest Platform Expansion

Even as 2020 begins to wind down, FinTech deals continue to roll in. Last week, Vennfi announced it had raised $2.3 million in funding. The seed round was led by former DCM Ventures partner Tom Blaisdell with participation from Teamworthy Ventures,, Sovereign’s Capital, and Promus Ventures along with individual investors and other funds. With the latest raise, Vennfi’s has now brought in a total of $3.7 million for 2020.

Vennfi’s fundraising comes just ahead of their Charityvest platform rolling out a key new feature. On December 1st — also known as Giving Tuesday — the service will begin allowing users to donate publically-traded stocks and ETFs to one of the more than 1.4 million charities featured on the site. These transfers will have zero fees and can be done from any brokerage. As Charityvest notes, this strategy may be more advantageous for donors and charities when compared to the alternative of selling a stock and then giving the gains away.

Commenting on the new Charityvest stock donation service, the site’s CEO Stephen Kump stated, “Charityvest’s zero-fee stock giving feature is the first of its kind, enabling both individual donors and employees of companies that use Charityvest to make a tax-deductible gift of securities to their fund, and use the cash proceeds to support one or more charities with just a few clicks. With financial markets at all-time highs, we see stock giving as a highly efficient way to intentionally set aside financial resources for generosity.”

Meanwhile, investor Tom Blaisdell said of the platform, “Being generous makes people happier, and Charityvest makes being generous easier. This is yet another example of taking a financial vehicle – donor-advised funds, in this case – widely used by wealthy families and individuals to simplify and amplify their charitable giving, and applying technology to make it simple and inexpensive enough for everyone to take advantage of it.” Blaisdell added, “I’m excited to be involved in helping Charityvest make the world more generous.”

Outside of this stock-gifting functionality, Charityvest also boasts other features that both encourage and enable giving. For example, by using the platform, donors can consolidate their tax-deduction receipt. Elsewhere, the service also helps companies to create donation matching programs so that they can help support causes their employees believe in.

Overall, Vennfi and their Charityvest platform are good examples of how FinTech innovations are enabling all kinds of clever and useful services. Of course, with everything going on in the world right now, this investment and the ensuing expansion couldn’t come at a much better time. As a result, expect to not only see Vennfi themselves grow in the coming months but also anticipate further emphasis on improving giving and charity procedures with technology.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...