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Tracking fintech, banking & financial services innovations since 1994
Pinkaloo revealed this week it has raised $1.25 million in funding for its white label giving platform. Newly-minted Squadra led the round, marking the Baltimore-based venture capital fund’s second-ever investment.
Existing investors and new angel investors also contributed to the round, which brings Pinkaloo’s total funding to $1.8 million when combined with last year’s $550k seed round. The company will use today’s investment to support ongoing pilots with current bank partners, continue product investment, and grow its ADP Marketplace channel partnership to support the workplace version of its giving solution.
Pinkaloo’s Modern Giving solution, which CEO Gideon Taub showcased in a demo that won Best of Show at FinovateFall earlier this year, is a white-label solution that helps banks and credit unions facilitate charitable giving options for their accountholders. Through Modern Giving, users can round up their card purchases to the nearest dollar and donate their spare change, convert rewards points into charitable dollars, and invite friends and family to chip in to crowdfunding campaigns.
“This funding, along with the tractions that we are seeing with banks and the recognition from our Finovate Best of Show Award demonstrate that our product is helping companies drive their business forward,” said Taub. “We’re excited to be able to continue on our mission of helping clients build deeper relationships with their customers, employees, and communities.”
Pinkaloo’s platform echoes a larger philanthropic trend, spawned by end users’ increased interest in charitable giving. Recently, fintechs such as Meniga, Revolut, and Betterment have all launched programs to facilitate donations to humanitarian causes. As a standalone donation facilitation platform, Pinkaloo can help traditional financial institutions compete with fintechs on this level.
Founded in 2017, Pinkaloo has facilitated hundreds of thousands of dollars in charitable giving for the end users of its dozens of clients.
Maybe you missed your chance to attend FinovateFall earlier this month. Or maybe you want to watch your favorite demos over again. Either way, today’s your day. We’ve just released all of the videos from the 75 companies that demoed their fintech on stage.
The votes have been cast and the ballots counted. And after two days of live fintech demos from 75 innovative companies, here are the best of the best: the companies our attendees have deemed FinovateFall’s Best of Show.
BlytzPay for its text-to-pay solution that makes billing and communication simple, streamlined, and secure while providing flexibility to pay by card, check, or cash.
Cinchy for its Data Collaboration Platform that lets data work the way it should: connected, controlled, and accessible for real-time collaboration.
College Aid Pro for its innovative technology, supported by a community of financial advisors, that changes the way America shops for college.
ebankIT for its omnichannel digital banking platform that helps banks and credit unions transform their businesses.
Glia for its technology that creates digital-first moments that simplify and transform communications between businesses and their customers.
MX Technologies for its platform that helps financial institutions and fintechs quickly and easily collect, enhance, analyze, present, and act on their financial data.
owl.co for its instant KYC/AML tool that automates enhanced due diligence on both individuals and companies.
Pinkaloo Technologies for its solution that helps financial institutions attract and retain customers and increase deposits and fees by powering their customers’ charitable giving.
Zogo Finance for its technology that leverages partnerships with financial institutions to reward kids for learning financial literacy.
Those in attendance at this year’s FinovateFall can attest to the energy and enthusiasm that characterized our conference this week. Congratulations to all 75 of the companies that demonstrated their fintech innovations on stage and a heartfelt thanks to our partners, sponsors, and onsite tech team for making this year’s autumn event a smashing success.
Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The nine companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2019 conferences are below:
A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.
Pinkaloo helps financial institutions attract and retain customers and increase deposits and fees by powering their customers’ charitable giving.
Win new customers, new deposits, and new fees
Help customers budget, discover great charities, and collaborate
Offer round-ups and incentives to drive key KPIs
Why it’s great Customers switch banks 2.5x more than before. Eighty one percent of millennials expect a commitment to good corporate citizenship. Pinkaloo’s white-label Modern Giving provides FIs with a solution to both.
Gideon Taub, Founder & CEO Taub started his career on Wall St. before spending 10 years helping to build Videology, a VC-funded ad-tech product. He founded Pinkaloo to solve a personal problem he faced in managing his giving. LinkedIn
Daniel Gardner, COO Gardner spent 5 years at JP Morgan before transitioning into product and operations roles at tech startups. His passion for Pinkaloo stems from wanting to bring more data and transparency to giving. LinkedIn