You all voted and we listened.
Infinite Giving is the 2022 Atlanta Inno Madness winner. Nearly 1,000 votes were cast and the financial technology startup defeated supply chain startup Verusen in a highly competitive 54%-46% margin.
Since the last time Atlanta Inno shined a spotlight on founder Karen Houghton’s company, it has expanded its team and achieved a nationwide customer base after launching its automated investment platform geared toward nonprofits. The platform allows nonprofits to invest reserve funds, receive stock gifts and manage endowments.
“We are actively disrupting a very traditional industry and bringing a better investing experience to nonprofits,” Houghton said. “Reduced fees, greater transparency and asset growth all in one easy to use platform is a win on many different levels.”
Six months after launching the new platform, the company has customers from Delaware to Colorado including charities, schools and religious organizations and aims to quadruple its clientele by the end of the year, Houghton said. By this fall year, the company plans to also accept cryptocurrency. The company is in the midst of closing a funding round led by serial entrepreneur David Cummings and his investment firm Atlanta Ventures.
Houghton spent over eight years working with Cummings as a venture partner at Atlanta Ventures and vice president at Atlanta Tech Village.
After seeing how nonprofits used traditional platforms for investments with high fees, she was inspired to start her own entrepreneurial ambitions. She launched Infinite Giving last April with a $500,000 round from Cummings, SalesLoft CEO Kyle Porter and Atlanta Tech Village President David Lightburn. Houghton moved one floor up in the ATV and got to work.
Infinite Giving’s adviser fee for endowments less than $25 million is .50%, Houghton said. The average adviser fee is 1.34%.
“Nonprofits have a big responsibility to handle donor money responsibly and are always seeking additional funds,” Houghton said. “Many nonprofits are wasting too much on fees when that money should go to causes they care most about.”
The company has since grown to a team of eight. It became a registered investment adviser with the U.S. Securities and Exchange Commission one month before launching its automated investment platform.
