Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, secured a $23 million growth capital commitment to Snap! Mobile, a fundraising platform for schools and organizations.
The funding is designed to enable Snap! to expand its digital platform and empower more organizations to raise critical funds for high school athletics and other extracurricular activities.
“We’re thrilled to partner with Snap! to support their continued growth and help scale their impact on schools’ sports teams and clubs across the country,” Jeff Goldrich, managing director at Runway, said. “Their platform and leadership team have transformed fundraising by making it safer and easier for communities nationwide to rally behind students and supplement budget shortfalls with private funding. We’re confident in Snap!’s ability to expand their reach, helping to deliver even more opportunities to more students, with this investment.”
“We’re incredibly grateful for Runway’s support and belief in our mission,” Cole Morgan, CEO of Snap! Mobile, said. “This new capital will allow us to enhance our platform, broaden our customer base and drive forward our vision of ensuring that every young person has access to the athletics and activities that are so crucial to their development.”
