Spade Raises $40M Series B to Power Real-Time Financial Data Intelligence
Financial infrastructure has a dirty little habit. It smiles on the surface and sweeps the mess underneath. Those messy transaction strings are the mess. They look like they were typed by a fax machine with trust issues, yet billion-dollar decisions lean on them every day. Oban MacTavish and Cooper Hart didn’t dress it up or dance around it. They went straight at the fracture running through the system and rebuilt the layer everyone else tolerated. That’s how Spade came together in 2021, with Tess Bloch stepping in to make the data stop guessing and start telling the truth.
Now the market is paying attention in a serious way. Spade just pulled in $40M in Series B funding, led by Oak HC/FT, with Andreessen Horowitz, Flourish, Gradient, NAventures, and Y Combinator all back at the table. Allen Miller doubled down. Marc Andrusko is now in the mix at Oak HC/FT. When investors who’ve seen every flavor of fintech still lean forward like this, it’s not curiosity. It’s recognition.
What Spade actually does sounds simple until you realize how hard it is. They take raw, cryptic transaction data and turn it into something precise, structured, and usable in real time. Merchant identity, geolocation, categories, risk signals, all cleaned up and delivered in under 40 ms. That’s not a feature, that’s infrastructure with a pulse. Processing up to 1.9B transactions a day, hitting 99.9% coverage and >99% accuracy, this isn’t a “nice to have.” This is the difference between guessing and knowing.
And here’s where it gets interesting. More than 85% of customers are not just using Spade, they’re building on it. Stripe, Bilt, Mercury, Monzo. These aren’t casual integrations. These are companies wiring Spade into authorization, rewards, fraud, and analytics. When your data layer becomes the default layer, you stop being a vendor and start becoming gravity.
The timing lines up with a broader shift across financial services. Systems are moving toward automation, but automation without clean inputs is just faster confusion. Spade’s Agent Layer leans into that reality, turning enriched data into workflows that execute, not just report. Not dashboards. Decisions. The kind that scale without adding headcount or guesswork.
There’s a lesson sitting right under this raise. Spade didn’t chase surface-level features or trend cycles. They went after a stubborn, unsexy problem that everyone else routed around. Then they solved it with speed, accuracy, and consistency until it became undeniable. Turns out, if you fix the foundation, the entire building starts to look different. And a lot more valuable.
