# Vennfi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vennfi

- Industry: Financial Services
- Headquarters: Atlanta, US
- Website: www.charityvest.org
- Total disclosed funding: $4.5M
- Latest round: Seed (Apr 28, 2022)
- Investors on record: 5

## About

Vennfi, Inc. is a US-based company that provides innovative donor-advised funds, facilitating impactful charitable giving for individuals and organizations through a streamlined digital platform.Founded in 2016 in Atlanta, US, Vennfi, Inc. specializes in modern donor-advised funds and has undergone strategic developments to enhance its offerings. The company's founders, Ashby Foltz and Stephen Kump, aimed to simplify charitable giving. As of October 2024, Vennfi was acquired by Foundation Source Philanthropic Services Inc. from various investors including Duro Ventures and Y Combinator. The company raised a total of USD 2.20 mn in its Seed funding round, led by Duro Ventures, achieving a current valuation of USD 22.121 mn.Vennfi, Inc. offers modern donor-advised funds that enable purposeful giving for individuals and organizations. Their primary product is a user-friendly giving account that allows donors to efficiently contribute to charitable causes, manage donations, and track philanthropic efforts from a single platform. This service targets high-net-worth individuals and families, addressing common inefficiencies in the charitable process. Vennfi’s services are accessible across various markets in the United States, serving a diverse customer base that includes individual philanthropists, family foundations, and corporate donors.Vennfi generates revenue through transaction fees associated with donations made via its platform. This structured model allows donors to fund accounts allocated to various charitable organizations, facilitating both one-time contributions and recurring donations. The fees applied to donations may vary based on transaction size and specific features utilized, positioning the platform to attract a broad user base and enhance revenue potential through increased transaction volume.Following its acquisition by Foundation Source Philanthropic Services Inc. on October 17, 2024, Vennfi, Inc. aims to leverage this partnership to enhance and broaden its donor-advised fund offerings. The acquisition is expected to drive future growth by expanding into new markets and enhancing product features, although specific upcoming products and release dates have not been disclosed. The focus will be on utilizing the recent funding to support these strategic initiatives and solidify the company’s market position in the philanthropic services sector.

## Funding rounds

- Seed, Apr 28, 2022, $2.2M — Duro Ventures
- Seed, Nov 19, 2020, $2.3M — DCM, Promus Ventures, Sovereign's Capital, Teamworthy Group, Duro Ventures

## Investors

- DCM (https://capitalatlas.ai/funds/dcm) — Seed
- Promus Ventures (https://capitalatlas.ai/funds/promus-ventures) — Seed
- Sovereign's Capital (https://capitalatlas.ai/funds/sovereign-s-capital) — Seed
- Teamworthy Group (https://capitalatlas.ai/funds/teamworthy-group) — Seed
- Duro Ventures (https://capitalatlas.ai/funds/duro-ventures) — Seed