Spinwheel

Spinwheel

Financial wellness solutions for debt management

About Spinwheel

Simplify's Rating
Why Spinwheel is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

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

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

↓ -4%

1 year growth

↑ 0%

2 year growth

↓ -4%
Business Wire
Oct 20th, 2022
Spinwheel Launches Spinwheel Cred, A New Personal Loan And Credit Card Bundled Suite To Help Borrowers Tackle Debt

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

Yahoo News
Aug 24th, 2022
Spinwheel launched Spinwheel CARES on Aug 24th 22'.

“Spinwheel launched Spinwheel CARES once the new servicer was announced for all PSLF borrowers.

Insolvency Guardian
Aug 20th, 2021
Spinwheel hires Sean Anderson as Head of Platform and COO

Spinwheel, the leading intelligent debt API platform for fintechs, announces the hiring of Sean Anderson as Head of Platform and COO.

There are no jobs for Spinwheel right now.

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