Exclusive: Spinwheel Raises $30M to Streamline Debt Management

Updated

Jun 23, 2025

Spinwheel, a fintech startup focused on consumer debt management, raised $30 million in Series A funding, CEO Tomás Campos tells Axios exclusively.
Why it matters: Debt management solutions remain fragmented and difficult for users to manage effectively.
How it works: Spinwheel helps fintech platforms and banks authenticate users, automate data retrieval and facilitate payments, reducing the friction of managing consumer debt.
  • With a person’s phone number and date of birth, the company can find and connect to all of an end user’s liability accounts and make payments on their behalf.

  • “We decided we’re not going to depend on the user and password because the friction is too high and it doesn’t prove it’s actually the user,” Campos says.

The big picture: Consumer fintechs face challenges in getting users to authenticate and connect all of their various financial accounts.
  • High friction from login requirements often leads to user drop-off and incomplete financial pictures.

Between the lines: The company’s unique feature is combining data aggregation capabilities, like those of Plaid, with payment processing functionality similar to Stripe’s.
  • “We’re not just aggregating data. We’re actually a payment network that can automate real transactions for consumers,” Campos says.

Flashback: Spinwheel initially focused on student loan repayment but pivoted to a broader approach to managing various types of consumer debt.
  • Customers now include PFM platforms like Monarch Money, marketplaces like NerdWallet or Credit Karma, and lenders.

By the numbers: Spinwheel has connected over $1.5 trillion in consumer liabilities across 165 million accounts since its founding.
  • It has processed over 50 million AI-powered payment transactions, leading to revenue increasing 760% over the past 18 months.

Zoom in: F-Prime Capital led the round, which included participation from QED Investors, Foundation Capital and Fika Ventures.
  • Spinwheel had previously raised $14 million in 2021.

Read the rest of the release here.

Reported by:
Ryan Lawler

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macbook pro on black wooden table

Ready to Build Better?

See how Spinwheel integrates into your company’s consumer experiences.