Spave Company Profile

Background

Overview

Spave is a fintech company founded in 2016 by Susan Langer, headquartered in Red Wing, Minnesota. The company offers a mobile application designed to help users automatically save and donate a portion of their spending to causes they care about. By integrating these financial habits into everyday transactions, Spave aims to empower individuals to achieve financial wellness and support charitable organizations effortlessly.

Mission and Vision

Spave's mission is to transform spending for good, enabling users to make a tangible impact on their communities and personal finances through everyday purchases. The vision is a world powered by purpose, where every transaction contributes to personal savings and supports meaningful causes.

Industry Significance

Operating within the fintech sector, Spave addresses the growing demand for integrated financial solutions that combine personal finance management with philanthropic engagement. By offering a platform that seamlessly blends saving and giving, Spave caters to a socially conscious consumer base, particularly millennials and Gen Z, who seek to align their financial activities with their values.

Key Strategic Focus

Core Objectives

Financial Empowerment: Provide users with tools to manage their finances effectively, promoting savings and financial health.

Philanthropic Engagement: Facilitate effortless charitable giving, allowing users to support causes they care about without additional effort.

User-Centric Experience: Develop an intuitive, mobile-first platform that integrates seamlessly into users' daily lives.

Areas of Specialization

Micro-Donations and Savings: Enable users to allocate small portions of their spending to savings goals and charitable donations.

Financial Tracking and Analysis: Offer features that allow users to monitor spending habits, set financial goals, and receive tips for improving financial health.

Key Technologies Utilized

Mobile Application Development: Utilize cutting-edge mobile technology to create a user-friendly interface accessible on iOS and Android devices.

Secure Financial Transactions: Partner with trusted services like Plaid, Dwolla, and AWS to ensure bank-level security for user data and financial transactions.

Primary Markets Targeted

Individual Consumers: Particularly millennials and Gen Z individuals seeking to integrate financial management with social impact.

Financial Institutions: Credit unions and banks looking to enhance member engagement through innovative financial tools.

Nonprofit Organizations: Charities aiming to attract new donors and increase engagement through modern giving platforms.

Financials and Funding

Funding History

Specific details regarding Spave's total funds raised and recent funding rounds are not publicly disclosed. The company has engaged in strategic partnerships to expand its reach and capabilities.

Notable Investors

Spave is a portfolio company of Reseda Group, a Credit Union Service Organization (CUSO) of Michigan State University Federal Credit Union. This partnership aligns with Spave's mission to strengthen and empower the credit union industry.

Utilization of Capital

While specific utilization details are not publicly available, the capital is likely directed towards:

Product Development: Enhancing the Spave app's features and user experience.

Market Expansion: Building partnerships with financial institutions and nonprofit organizations.

Operational Scaling: Supporting the growth of the team and infrastructure to accommodate a larger user base.

Pipeline Development

Key Pipeline Candidates

As a fintech company, Spave's primary focus is on the continuous development and enhancement of its mobile application. The company does not publicly disclose specific pipeline candidates or products beyond the Spave app.

Stages of Development

Product Launch: The Spave app was launched in 2016, offering features such as automatic savings, effortless giving, and financial tracking.

Partnership Expansion: In 2023, Spave partnered with Curql Collective to integrate its platform with credit unions, enhancing member engagement.

Nonprofit Collaboration: In 2025, Spave partnered with Our Rescue, a global NGO, to support the fight against sex trafficking and child exploitation through micro-donations.

Target Conditions

Spave's platform is designed to address the following:

Financial Wellness: Helping users build savings habits and achieve financial goals.

Philanthropic Engagement: Enabling users to support charitable causes effortlessly.

Anticipated Milestones

User Growth: Expanding the user base through strategic partnerships and marketing efforts.

Feature Enhancement: Continuously improving app functionalities based on user feedback and technological advancements.

Technological Platform and Innovation

Proprietary Technologies

Spave App: A mobile application that integrates spending, saving, and giving into a single platform, allowing users to allocate portions of their transactions to savings goals and charitable donations.

Significant Scientific Methods

Data Analytics: Utilizing data analytics to provide users with insights into their spending habits and the impact of their contributions.

Secure Financial Transactions: Implementing robust security measures to protect user data and financial transactions.

Leadership Team

Susan Langer – Founder & CEO

Susan Langer has a diverse background spanning corporate, entrepreneurial, and nonprofit sectors within financial services, marketing, and international development. She founded Mosaic Marketing in 1996 and transitioned to international development in 2001. Inspired by her travels abroad, she founded Live.Give.Save., Inc., in February 2016, which later became Spave.

Eileen Lundberg – Co-founder & CFO

Eileen Lundberg began her career at Cargill, gaining experience in various accounting roles. She served as the CFO at Hallmark Business Connections for 15 years, contributing significantly to the company's growth. She recently led the finance and operations functions of a restaurant/hospitality SaaS startup, which was acquired and successfully sold in 2023.

Competitor Profile

Market Insights and Dynamics

The fintech industry, particularly in the realm of personal finance and charitable giving, is experiencing significant growth. Consumers are increasingly seeking integrated solutions that allow them to manage finances while supporting causes they care about. Millennials and Gen Z are driving this trend, with a strong preference for mobile-first, user-friendly platforms.

Competitor Analysis

Ridivi: A fintech company offering personal finance management tools with a focus on budgeting and expense tracking.

Be Ys Pay: Provides a platform for users to make micro-donations to various causes, integrating giving into everyday transactions.

GonderAl: Offers a mobile application that combines financial management with charitable giving, allowing users to allocate funds to nonprofits.

Strategic Collaborations and Partnerships

Curql Collective: In 2023, Spave partnered with Curql Collective to integrate its platform with credit unions, enhancing member engagement and expanding its user base.

Our Rescue: In 2025, Spave collaborated with Our Rescue, a global NGO, to support the fight against sex trafficking and child exploitation through micro-donations.

Operational Insights

Spave differentiates itself by offering a comprehensive platform that combines spending, saving, and giving into a single, user-friendly experience. This integration appeals to socially conscious consumers seeking to align their financial activities with their values. The company's partnerships with credit unions and nonprofit organizations further strengthen its market position and expand its reach.

Strategic Opportunities and Future Directions