Powering the future of the consumer credit ecosystem, Spinwheel is rewiring how consumer credit data is accessed, activated, and embedded into financial workflows. Recently, the company announced the close of its USD 30 million Series A funding round, led by F-Prime with participation from QED Investors, Foundation Capital, and Fika Ventures. Spinwheel’s real-time consumer credit data and payments platform currently supports more than 15 million users and 165 million connected credit and liability accounts, facilitating over USD 1.5 trillion in consumer debt across its network. The new funding will accelerate development of its agentic AI platform, expand its data sets and product offerings, and scale its go-to-market team as it builds the foundational infrastructure to transform the consumer credit data and payments ecosystem.
Today, the consumer credit ecosystem is buckling under the weight of legacy systems. U.S. consumer liabilities have reached USD 19.5 trillion, which is up from USD 13.3 trillion just a decade ago. Additionally, the average American holds between 10 to 14 credit accounts. Despite the scale, the infrastructure supporting credit data access and payments remains fragmented, slow, and riddled with friction for financial institutions, while consumers are left juggling multiple logins and outdated information.
“Financial providers are faced with immense customer service friction, high operational and acquisition costs, missing or outdated data sets and a cumbersome, disjointed experience for consumers who, in turn, are struggling to view, understand and manage numerous liability and credit accounts. We are transforming this challenge by building the foundational infrastructure to power the future of the consumer credit ecosystem,” said Tomás Campos, co-founder and CEO, Spinwheel. “We believe this is an enormous opportunity that will outpace open banking. With a focus on first principles and innovation, we will elevate our financial clients’ ability to deliver better credit outcomes to consumers like never before.”
Spinwheel was built to establish a unified infrastructure layer that simplifies how liabilities are accessed, activated, and resolved. Spinwheel partners with lenders, marketplaces, personal financial management platforms, and other financial companies to provide real-time, verified consumer credit data to process payments as part of their clients’ existing workflow and operations via APIs. The company’s proprietary, credentialless technology requires only two data fields – phone number and date of birth – streamlining and simplifying user actions and delivering a more complete consumer credit profile, empowering financial clients to provide better financial products and a seamless experience for the consumer. Spinwheel’s clients see significant improvements in conversion rates, increased revenue, lower operational and acquisition costs, as well as mitigated risk.
“Spinwheel is tackling one of the most complex and consequential frontiers in financial data: real-time consumer liabilities. While open banking has largely focused on assets, there is a large opportunity in mapping the full liability picture across credit cards, mortgages, student loans, and more,” said David Jegen, Managing Partner at F-Prime. “We’re in the early innings of this category’s evolution. Spinwheel’s team has the right combination of deep technical skill and market insight required to lead in a market where challenges are large and the stakes are high.”
This latest funding will accelerate its technology to further automate credit management and unlock more data through its agentic AI platform, expand into new access points and offerings for non-traditional data and sources, and build out its go-to-market team. Spinwheel’s infrastructure is built with bank-grade security standards, ensuring that while data is made more accessible and actionable, consumer privacy and protection remain paramount.
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