Industry Newsmerchant intelligencetransaction dataspadefintech
Spade Raises $40 Million Series B Funding
7.3
Spade raised $40 million in a Series B funding round on March 24 to expand its platform that helps banks and FinTechs turn transaction data into actionable insights. The company said it will use the capital to deepen platform capabilities and grow its team; its database delivers 99.9% U.S./Canadian merchant coverage and processed up to 1.9 billion transactions daily.
Key Points
- 1Raised $40 million Series B to expand its merchant-intelligence platform and hire talent
- 2Matches card, ACH and wire data to proprietary merchant database with 99.9% coverage
- 3Enables rewards attribution, authorization decisioning, analytics and AI initiatives for financial firms
Scoring Rationale
Strong commercial traction and enterprise relevance, but primarily a funding announcement with limited technical detail.
Sources
Public references used for this report.
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