A church pastor has successfully raised $20 million for his startup, Overflow, which aims to simplify charitable giving.
The Series B funding round was led by Wesleyan Investment Foundation, an organization that provides financial support to churches and related entities. Founded in 2020, Overflow started by facilitating stock donations to churches and nonprofits but has since expanded its offerings. Users can now donate through a variety of methods, including ACH, credit card, DAF, wills, cryptocurrency, Apple Pay, Venmo, CashApp, Google Pay, and PayPal, all integrated via a single ‘easy button.’
Overflow currently boasts nearly 250,000 users and approximately 450 organizations on its platform, including notable entities like the Golden State Warriors Community Foundation, American Cancer Society, Life Church, Church of the Highlands, and Convoy of Hope.
With the recent funding secured, Overflow plans to extend its services beyond donations to include a suite of financial products for churches and nonprofits. CEO Vance Roush, a pastor and former employee at Google, stated, "With this latest round of funding, we are now positioned to expand beyond our core giving solution to new product areas such as spend management—a sort of ‘Brex for Churches.’ Our goal is to establish a full financial suite of solutions to save church and nonprofit finance teams time and money."
Learn more about payments at NextGen Nordics on April 23, 2024.