Overflow, a pioneer in reshaping generosity through innovative financial solutions, proudly announces the successful closure of its $20 million Series B funding round. The strategic round was led by Wesleyan Investment Foundation, with participation from existing investors including Uncork, R7, and TheGP.
Overflow specializes in empowering churches, nonprofits, and donors by offering a suite of cash and non-cash giving solutions that make the giving process frictionless and elevated. The company’s mission is to inspire global giving by revolutionizing charitable contributions and democratizing innovative financial solutions within the philanthropic sector.
The latest funding injection will enable Overflow to expand its offerings beyond the core giving solution. Vance Roush, Founder and CEO, shared his excitement, stating, “With this latest round of funding, we are now positioned to expand beyond our core giving solution to new product areas such as spend management – a sort of ‘Brex for Churches.’ Our goal is to establish a full financial suite of solutions to save church and nonprofit finance teams time and money. Additionally, consolidating an organization’s financial activity into one platform allows for greater access to actionable insights and opportunities for additional financial products like growth lending.”
Overflow, in its relentless pursuit, aims to make charitable giving seamless and secure while saving customers money. The company aspires to become the financial operating system for the faith space and beyond. The Wesleyan Investment Foundation, with its 78-year history of serving the financial needs of churches, expressed alignment with Overflow’s mission.
Norwood Davis, President at Wesleyan Investment Foundation, stated, “Overflow is deeply aligned with that mission and empowers many churches, nonprofits, and 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.”
Since its inception in 2020, Overflow has transformed the giving landscape, starting with the introduction of seamless stock donations. The platform’s innovative approach has resulted in an average stock donation of $12,979, 100 times larger than the national average cash donation. Overflow now boasts over 240,000 users and is on track to surpass 1 million users this year.
Overflow’s comprehensive giving solution includes ACH, Card, Stock, DAF, Wills, Crypto, Apple Pay, Venmo, CashApp, Google Pay, and PayPal, all integrated through one ‘easy button.’ The platform has attracted over 450 leading organizations, including the Golden State Warriors Community Foundation, Church of the Highlands, VOUS, Zoe Church, The Belonging Co, VIVE, Reality SF, and Convoy of Hope.
Overflow believes in leading by example and annually reserves and deploys 10% (a ‘tithe’) of its revenue back into the organizations it serves to model the impact of generosity. The company remains committed to its vision of redefining generosity for the digital age and making a lasting impact on local communities.