What does Pinwheel do?

Pinwheel offers direct deposit and bill switching APIs plus income and payments data connections for banks and fintechs.

Who are Pinwheel's investors?

Pinwheel's investors include Circadian Ventures, Coatue Management, EQUIAM, First Round Capital, Grand Ventures, Notable Capital, SemperVirens Venture Capital, Stonewater Ventures and 11 more.

How much funding has Pinwheel raised?

Pinwheel has disclosed $50M raised across 1 round.

Pinwheel

78 employees on LinkedIn · 20 known investors

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Pinwheel provides API-based connections to payroll, income, investment, and payments data sources, giving businesses real-time access to their customers' financial information. Its Connected Accounts product supplies source-of-truth data to help financial institutions understand customers and improve acquisition.

Also known as Pinwheel API

Data & Infrastructure Enterprise Software Fintech SaaS

Founders & leadership

Anish BasuFounder

Curtis LeeFounder

Kurtis LinFounder

Investors · 20

Circadian Ventureslisted by Circadian VenturesAtlanta · $500K – $1.5M

How we know: Circadian Ventures's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us

Coatue Managementlisted by Coatue ManagementNew York · $1M – $20M

How we know: funding news · techcrunch.com · open dataset · 5k.vc investor directory · Not right? Tell us

EQUIAMlisted by EQUIAMSan Francisco · $1M – $10M

How we know: EQUIAM's portfolio page · Not right? Tell us

First Round Capitallisted by First Round CapitalSan Francisco · $100K – $20M

How we know: funding news · techcrunch.com · firstround.com · Not right? Tell us

Grand Ventureslisted by Grand VenturesGrand Rapids · $250K – $2M

How we know: Grand Ventures's portfolio page · Not right? Tell us

Notable Capitallisted by Notable CapitalSilicon Valley · $5M – $50M

How we know: Notable Capital's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us

SemperVirens Venture Capitallisted by SemperVirens Venture CapitalSan Mateo

How we know: SemperVirens Venture Capital's portfolio page · Not right? Tell us

Stonewater Ventureslisted by Stonewater Ventures

How we know: Stonewater Ventures's portfolio page · Not right? Tell us

Tq Ventures Llclisted by Tq Ventures LlcNew York

How we know: Tq Ventures Llc's portfolio page · funding news · techcrunch.com · the VCSheet dataset · Not right? Tell us

Triton Capitallisted by Triton CapitalAustin

Upfront Ventureslisted by Upfront VenturesLos Angeles · $1M – $10M

How we know: Upfront Ventures's portfolio page · funding news · techcrunch.com · open dataset · 5k.vc investor directory · Not right? Tell us

Wonder Ventureslisted by Wonder VenturesLos Angeles · $100K – $1.5M

How we know: Wonder Ventures's portfolio page · the VCSheet dataset · Not right? Tell us

American Express Ventures (Amex)reported

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

Amex VenturesreportedPalo Alto

How we know: funding news · techcrunch.com · Not right? Tell us

Fenway Summer VenturesreportedWashington

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

Franklin TempletonreportedSan Mateo

How we know: funding news · techcrunch.com · Not right? Tell us

GGV CapitalreportedMenlo Park

How we know: funding news · techcrunch.com · Not right? Tell us

Kraken VenturesreportedAustin

How we know: funding news · techcrunch.com · Not right? Tell us

Primary Venture PartnersreportedNew York · $1M – $3M

How we know: the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us

Also in the syndicate · 1

Indeed

Funding

SEC filings, press & company announcements

$50M disclosed across 1 round · 2022

$50MSeries BJan 2022 · 6 sources
GGV Capital (lead), AMEX Ventures, Coatue, First Round Capital, Franklin Templeton, Indeed, Kraken Ventures, TQ Ventures, Upfront Ventures
Source ↗

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Pinwheel provides API-based products that let financial institutions and fintechs connect to external payroll, income, investment and payments data sources. Its most prominent offerings are direct deposit switching, bill switching (marketed as the Switch Kit), and income verification (Verify), which are positioned around account onboarding, activation and engagement.

A related product line, Connected Accounts, maintains ongoing connections to a customer's external financial data — employment, income, direct deposit allocations and external payment sources — so institutions can understand a customer's financial life beyond their own accounts. Pinwheel also markets PreMatch, a component it presents as improving conversion in the deposit-switching flow. The company publishes thought-leadership content, including a white paper on how banks and fintechs pursue primary account status and deposit growth through automated direct deposit switching.

Business model

Pinwheel sells API and embedded-workflow products to businesses, with a sales-led motion (contact-sales and "Let's talk" calls to action rather than self-serve signup).

Traction

The company cites metrics for its solutions including 2x better conversion for PreMatch versus prior-generation solutions, 30% more deposit switches than other providers, 80% more accurate auto-detection of recurring bills, and 50% of identified recurring bills switched within 45 days.

Latest developments

Current marketing centers on PreMatch for conversion improvement and the Switch Kit for direct deposit and bill switching, alongside a white paper on account primacy and deposit growth.

▸Full profile — market position, technology, go-to-market

Market position

Pinwheel positions its offerings against "last generation" switching solutions, citing higher conversion, more deposit switches and more accurate recurring-bill detection than other providers.

Direct integrations with payroll providers, auto-detection of recurring bills, and continuous external-account data connections are presented as the basis for higher switch and conversion rates.

Technology

Pinwheel states it establishes direct connections with payroll providers, which it credits for the performance of its deposit- and bill-switching experiences, and it delivers real-time, source-of-truth data on employment, income, direct deposit allocations and external payment sources.

Go-to-market

Direct enterprise sales supported by product pages, customer testimonials and gated content such as a white paper on deposit primacy.

Banks, credit unions and fintechs seeking to win primary account status, accelerate onboarding and grow deposits; a named reference customer is the credit union Meriwest.

Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported

Accuracy of recurring bill auto-detection vs. other providersJan 202580 % more accurate

Conversion improvement vs. prior-generation solutions (PreMatch)Jan 20252x better conversion

Deposit switches vs. other providersJan 202530 % more

HeadcountAug 202678

Identified recurring bills switched within 45 daysJan 202550%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

5 people who came through Pinwheel went on to found or lead other companies.

Ayo OmojolaBoard MemberFounded Substrate +1 Raj DateAdvisorFounded Fsvector Alexandru AntihiHead of DesignFounded Designbase Cameron SpillerSoftware EngineerFounded Soria Sean SperteStaff DesignerFounded Tagboard

Related companies · 10

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StripeStripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.

PayactivPayactiv provides Earned Wage Access (EWA), letting workers access wages they have already earned before payday to avoid payday loans and overdraft fees. Operating as a Public Benefit Corporation and Certified B-Corp, the company also offers Visa prepaid and payroll cards to help employees manage financial needs.

MoneyLionMoneyLion is a financial technology company offering consumer banking products including spend accounts, savings accounts with variable APY, a debit Mastercard with cash back rewards, and a membership plan with added services and insurance benefits. It provides a marketplace connecting users to third-party financial products, with banking services provided by Pathward, National Association.

DailyPayDailyPay provides on-demand pay solutions that allow employees to access their earned wages before traditional paycheck cycles, serving employers and workers seeking greater financial flexibility. The company offers employer-integrated payroll software, worker financial wellness tools, and a fintech platform for the hourly and salaried workforce.

SpinwheelSpinwheel provides an API platform delivering real-time consumer credit data and embedded payments for lenders, personal finance managers, and debt management platforms. The platform enables consumer verification with minimal data input and supports the full consumer credit lifecycle from acquisition to repayment.

Paycor, Inc.Paycor provides human capital management and payroll services for business leaders and frontline managers. The platform offers talent management, workforce management, benefits administration, and compliance tools.

EvereeEveree operates the Flex Platform, a payroll system that runs on flexible schedules (daily, weekly, or on demand) and pays both W-2 and 1099 workers with multi-state tax compliance across all 50 states. It serves staffing firms, gig-work platforms, and businesses with flexible workforces, and offers white-label/embedded payroll, financing via Flex Credit, and onboarding tools like remote I-9 and E-Verify.

ADPADP provides cloud-based human capital management solutions that integrate payroll, HR, talent management, time and attendance, tax, and benefits administration for businesses globally. The company serves as a comprehensive provider of HCM software and business outsourcing services with analytics and compliance expertise.

InstantInstant offers an all-in-one pay platform providing earned wage access, digital tip payouts, and a virtual pay card, letting employees access their wages and tips before payday without fees. It is sold to employers in the US as a benefit for part-time, salaried, and gig workers, and integrates with payroll and HCM systems.

Companies working in the same space as Pinwheel.

▸Research sources · 1

primary sources listed

Pinwheelpinwheelapi.com · web

1 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Pinwheel do?: Pinwheel offers direct deposit and bill switching APIs plus income and payments data connections for banks and fintechs.
Who are Pinwheel's investors?: Pinwheel's investors include Circadian Ventures, Coatue Management, EQUIAM, First Round Capital, Grand Ventures, Notable Capital, SemperVirens Venture Capital, Stonewater Ventures and 11 more.
How much funding has Pinwheel raised?: Pinwheel has disclosed $50M raised across 1 round.