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About Spinwheel
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Early VC
Total Funding
$14.7M
Headquarters
Oakland, California
Founded
2019
Overview
Spinwheel offers financial wellness solutions that help consumers manage and reduce their debt. The company provides data and precision pay solutions that integrate with platforms like Betterment, automating contributions to student loans and 401k plans for small to medium-sized businesses. Spinwheel also assists employers in leveraging tax benefits from the CARES Act and Secure 2.0 legislation, while empowering employees to create plans for faster debt repayment and improved retirement savings. By partnering with banking apps like Qapital, Spinwheel delivers personalized recommendations for enhancing credit scores.
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Simplify's Take
What believers are saying
- Growing demand for embedded finance solutions enhances Spinwheel's market integration opportunities.
- Increased focus on student loan repayment solutions boosts Spinwheel's relevance post-loan payment pause.
- Rising consumer demand for debt management tools supports Spinwheel's market growth potential.
What critics are saying
- Increased competition from established fintech companies may erode Spinwheel's market share.
- Potential regulatory changes could impact Spinwheel's operations and partnerships.
- Economic downturns may reduce consumer spending on financial wellness products, affecting revenue.
What makes Spinwheel unique
- Spinwheel offers a comprehensive debt management platform with real-time payoff and data insights.
- The platform integrates with apps like Qapital for personalized credit score improvement recommendations.
- Spinwheel's solutions help employers leverage tax benefits from CARES Act and Secure 2.0 legislation.
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Funding
Total Funding
$14.7M
Above
Industry Average
Funded Over
2 Rounds
Growth & Insights and Company News
6 month growth
↓ -4%1 year growth
↑ 0%2 year growth
↓ -4%OAKLAND, Calif.--(BUSINESS WIRE)--Spinwheel, the leading intelligent embedded debt platform, today launched Spinwheel CRED, holistic solutions combining Credit + Personal Loans, Real-time debt payoff, Embedded financing, and Data insights. This new personal loan and credit card bundled suite is designed to put borrowers back in the driver’s seat when it comes to debt management. In recognition of challenging economic times for many and a potential looming recession, the new offering makes it easier to pay off debt across categories. This follows on the heels of the launch of Spinwheel CARES, the company’s newest student debt API solution created to help financial services and apps prepare customers for the end of the student loan payment pause. With real-time debt payoff, embedded financing, and data insights, Spinwheel offers the only comprehensive debt management platform that improves outcomes for companies and borrowers
“Spinwheel launched Spinwheel CARES once the new servicer was announced for all PSLF borrowers.
Spinwheel, the leading intelligent debt API platform for fintechs, announces the hiring of Sean Anderson as Head of Platform and COO.
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About Spinwheel
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Early VC
Total Funding
$14.7M
Headquarters
Oakland, California
Founded
2019
There are no jobs for Spinwheel right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Spinwheel