Overflow Announces $20 Million Series B Round to Continue Work of Redefining Generosity for the Digital Age

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3 Minute Read
Posted by Overflow Team on February 7, 2024

Tags: Company, Updates

Generosity is central to every church, non-profit, and philanthropic endeavor across the United States. At Overflow, we believe that people are intrinsically drawn to give and be generous, but they don’t always have access to the best tools to do so. We’re thrilled to announce our $20 Million Series B fundraise, which will help power our work of making charitable giving seamless and secure, while also saving our customers time and money. The new investment will also enable us to scale towards our wider mission of becoming the financial operating system for the faith space and beyond.

 

“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.

 

From Then to Now

What began as a spark as a pastor at VIVE church looking to help our organization better support the generosity of Silicon Valley parishioners first grew into a startup in 2020 backed by our incredible Series A partners, Uncork, R7, and The GP – who are also joining this round alongside Wesleyan Investment Foundation.

We started by creating a system to facilitate stock donations, unlocking swaths of new opportunities for charity, and now powering an average stock donation of $12,979, a staggering 100 times larger than the national average cash donation. 

We grew to facilitate crypto donations and then broadened even further and now support 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.

Our platform proudly boasts over 240,000 users and is on track to eclipse 1 million users this year, connecting them with over 450 leading organizations like the Golden State Warriors Community Foundation, Church of the Highlands, VOUS, Zoe Church, Belonging Co, VIVE, Reality SF, and Convoy of Hope.

 

Looking Towards the Future

When we announced our Series A, we laid out a vision of creating a platform that allowed you to donate any asset class, a goal we quickly accomplished. With this latest funding round, we’re excited to share our vision for a comprehensive financial operating system for the giving space – a sort of Brex for nonprofits, churches, and philanthropies.

We’re on a mission of empowerment by creating products that make giving frictionless and elevated through a full suite of cash and non-cash giving. We’re working to revolutionize charitable giving and democratize innovative financial solutions to the philanthropic sector.

We believe that providing the financial technology that high-impact churches and nonprofits deserve will act as a superpower for them to take their organizations to the next level. It’ll translate to greater impact in local communities and an acceleration of solving society’s most pressing problems such as spiritual and mental health, food and housing insecurity, education, disease, disaster relief and so much more. 

We are also committed not just to facilitating generosity, but acting on it ourselves by reserving and deploying a tithe of our revenue back into our partner organizations to model what generosity can look like.