Spade raises $40M
Spade closed a $40 million Series B to expand an AI-powered transaction data platform aimed at modern finance teams — the round positions it to scale data and automation in deal workflows. Investors are backing tooling that marries transaction-level data with ML, a clear signal for hiring in data engineering and model ops. (businesswire.com)
Spade reported 470% year‑over‑year revenue growth and a peak daily transaction volume of 1.9 billion transactions. (businesswire.com) The round was led by Oak HC/FT with participation from Andreessen Horowitz, Flourish, Gradient, NAventures, the National Bank of Canada’s corporate venture arm, and Y Combinator. (businesswire.com) The company says its enrichment foundation delivers 99.9% coverage of U.S. and Canadian merchants, 99%+ accuracy across payment types, and P99 API enrichment latency under 40 milliseconds. (businesswire.com) Spade pairs a proprietary matching engine with advanced AI agents that continuously scan the web and external data sources to fill metadata gaps, eliminate duplicate records, and drive a self‑improving merchant “flywheel.” (businesswire.com) Customers and partners named on Spade’s site and case studies include Bilt, Mercury, Stripe, FIS, PayPal, Sardine, Unit, Ramp, and Corpay, with published Bilt and Mercury case studies showing product integration examples. (spade.com) Spade was founded in 2021 and lists cofounders Oban MacTavish, Cooper Hart, and Tess Bloch, with MacTavish serving as CEO and quoted on the company’s ambition to become the default data and intelligence layer for financial services. (crunchbase.com) The company says it will use the new capital to deepen platform capabilities, expand the team, and meet rising demand from banks and fintechs for real‑time use cases such as authorization decisioning, reward attribution, and analytics. (businesswire.com)
