Spinwheel, a FinTech company focused on consumer credit infrastructure, has secured $30m in a Series A funding round to drive the transformation of credit data access and payments in the U.S.
The round was led by F-Prime, with participation from QED Investors, Foundation Capital, and Fika Ventures.
Spinwheel provides a real-time data and payments platform that enables seamless access to consumer credit and liability information. The platform currently serves over 15 million users and connects more than 165 million accounts, helping to manage a staggering $1.5trn in consumer debt across its network.
The new capital will be used to develop Spinwheel’s agentic AI platform, enhance its data capabilities and product offerings, and scale its go-to-market operations. The company aims to establish a new standard for the infrastructure underpinning consumer credit data and payments.
The current consumer credit system in the U.S. is under growing strain, with total liabilities rising from $13.3trn a decade ago to $19.5trn today. Many consumers manage between 10 to 14 credit accounts, yet the systems supporting them remain fragmented and inefficient, creating difficulties for both financial institutions and their customers.
Spinwheel co-founder and CEO Tomás Campos said, “Financial providers are faced with immense customer service friction, high operational and acquisition costs, missing or outdated data sets and a cumbersome, disjointed experience for consumers who, in turn, are struggling to view, understand and manage numerous liability and credit accounts. We are transforming this challenge by building the foundational infrastructure to power the future of the consumer credit ecosystem.
“We believe this is an enormous opportunity that will outpace open banking. With a focus on first principles and innovation, we will elevate our financial clients’ ability to deliver better credit outcomes to consumers like never before.”
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