The round was led by Oak HC/FT, with participation by Andreessen Horowitz, Flourish, Gradient, NAventures, National Bank of Canada's corporate venture arm, and Y Combinator. Spade will use the new funding to further deepen platform capabilities, expand the team and meet growing demand from financial institutions and fintechs that rely on Spade's foundational enhanced transaction data to power AI initiatives.

Spade is a data and AI platform that turns messy transaction strings into structured, verified records - and gives teams the tools to act on it across authorization, attribution, analytics, and AI initiatives. Spade leads the market in terms of merchant coverage, matching accuracy, geolocation data, and speed of transaction enrichment. Customers such as Bilt, Mercury and Stripe, alongside many other leaders in fintech and financial services, trust Spade's data to enable personalized rewards programs, accurate applied spending rules, precise analytics requests, and innovative AI-powered features.