BidPal, an Indianapolis-based mobile fundraising platform for nonprofits, closed $6.0m in growth financing.
MK Capital and Allos Ventures, current investors in BidPal, led a $3.5m new equity round while Square 1 Bank, a division of Pacific Western Bank, provided a $2.5m credit facility.
The company intends to use the funds to accelerate product development for its mobile fundraising platform, integrated payment processing solutions, and analytics suite and expand marketing and sales efforts.
Led by Steve Johns, CEO, BidPal provides a software-as-a-service suite of digital giving solutions including online campaigns, event management, mobile bidding, Text2give® and an integrated payment processing platform — SmartPay® Anywhere.
The company’s cloud-based mobile and payment solutions have allowed nearly 2,800 organizations to raise more than $1 billion through 8,300 events and connect with over one million unique donors.