# Spade **Source:** https://geo.sig.ai/brands/spade **Vertical:** Finance **Subcategory:** Accounting Software **Tier:** Challenger **Website:** spade.com **Last Updated:** 2026-04-14 ## Summary Financial transaction enrichment API converting raw bank strings to structured merchant data; merchant intelligence for fintech apps, neobanks, and embedded finance products. ## Company Overview Spade is a financial data enrichment company that provides transaction metadata and merchant intelligence to banks, fintech companies, and financial services firms — transforming raw bank transaction strings (like "SQ*COFFEESHOP 8003847") into clean, structured data with merchant name, category, location, logo, and spending insights. Founded in 2021 and headquartered in New York City, Spade raised approximately $17 million to build a comprehensive transaction enrichment API that serves the growing demand for better financial data in embedded finance and banking-as-a-service applications. Spade's transaction enrichment API converts the cryptic merchant identifiers in bank transaction records into structured merchant profiles including standardized merchant name, MCC (merchant category code) classification, merchant logo, website, address, and carbon footprint estimates. This clean data is the foundation for personal finance apps (showing recognizable merchant names in spending history), expense management tools (automatic categorization), and financial analytics products. In 2025, Spade competes in the financial data enrichment market against Plaid (which offers transaction enrichment alongside its data aggregation), Mastercard's Merchant Data Services, and MX Technologies for bank transaction enrichment. The growing ecosystem of fintech applications — neobanks, earned wage access apps, lending platforms — all need clean transaction data to power their user experiences. Spade's merchant database covers millions of merchants globally and is updated continuously as new merchants emerge and existing ones change. The 2025 strategy focuses on expanding its transaction carbon footprint estimates (for sustainability-focused banking apps), growing its card issuer direct integration program, and adding real-time merchant fraud signals to its enrichment data. ## Frequently Asked Questions ### What is Spade? Spade is a transaction data enrichment provider founded in 2021 that specializes in providing enriched transaction data for financial institutions. The San Francisco-based company is a Y Combinator W22 graduate that helps improve fraud detection and provides real-time merchant intelligence. ### What products and services does Spade offer? Spade offers a transaction enrichment API and card issuer products that provide real-time merchant intelligence with granular details about merchant names, categories, and geolocations. These services help financial institutions enhance their fraud detection models and improve transaction data quality. ### Who are Spade's target customers? Spade's primary customers are financial institutions, including banks and card issuers. The company launched its card issuer products in October 2022 to specifically serve this market segment. ### When was Spade founded? Spade was founded in 2021 and participated in Y Combinator's Winter 2022 (W22) batch. ### Where is Spade headquartered? Spade is based in San Francisco, California. ### How much funding has Spade raised? Spade has raised $21.1M in total funding over 4 rounds. This includes a $10M Series A in December 2023 led by Flourish Ventures with participation from a16z, and a $5M seed round in September 2022 led by Andreessen Horowitz. ### Who are Spade's investors? Spade's investors include Flourish Ventures, Andreessen Horowitz (a16z), Fidelity National Information Services, Gradient Ventures, Y Combinator, Fenway Summer, Flex Capital, Dash Fund, and Everywhere Ventures. ### What results can financial institutions expect from using Spade? Financial institutions using Spade's services can improve their fraud detection models by more than 15% through enhanced transaction data and real-time merchant intelligence. ### What is Spade's technology approach? Spade provides real-time merchant intelligence through its transaction enrichment API, delivering granular details about merchant names, categories, and geolocations. This enriched data helps financial institutions improve fraud models and enhance transaction monitoring. ### What are Spade's recent achievements? Spade reported its biggest quarter ever in Q1 2023 after launching card issuer products in October 2022. The company has reached product maturity and is now focused on growing revenue. ## Tags b2b, ai-powered, fintech, analytics, automation, startup --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*