Spade, the data and AI platform transforming transaction intelligence for financial institutions and fintechs, announced a $40 million Series B funding round led by Oak HC/FT, with participation from Andreessen Horowitz, Flourish, Gradient, NAventures, National Bank of Canada’s corporate venture arm, and Y Combinator. The financing will support platform expansion, team growth, and increased adoption of Spade’s enriched transaction data for AI-driven workflows. Founded in 2021, Spade converts raw, fragmented transaction data into verified merchant intelligence with 99.9% U.S. and Canadian coverage and 99%+ accuracy, powering mission-critical processes like authorization decisioning, rewards attribution, analytics, and AI initiatives.
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“This funding allows us to become the default data and intelligence layer for financial services, and we’re thrilled to be backed by investors who deeply understand the value of transaction data,” said Oban MacTavish, CEO of Spade. With a proprietary AI-driven matching engine and sub-40ms API latency, Spade processed up to 1.9 billion daily transactions last year, achieving 470% YoY growth. The Series B positions Spade to expand beyond enrichment, enabling banks and fintechs to build fully automated, agentic workflows and a complete payments intelligence platform.