Snap! Mobile today announced its acquisition of sports fintech startup Groundwork, a pioneering financial management platform for youth sports.
Through the acquisition, Snap! Mobile, Inc. expands its product range to be the first integrated fintech solution built, specifically to enable high school arts, athletic and youth sports programs to raise, budget, and manage money transparently in one easy to use solution
Snap! Mobile, Inc. is the creator of Snap! Raise, the nation’s largest digital fundraising platform for high school arts and athletics programs, which serves more than 15,000 unique schools and organizations, and 48,000 teams, groups, and clubs around the country.
“Our goal at Snap! Mobile is to create a simple, integrated, full-service solution for high school arts and athletic programs, and our acquisition of Groundwork is a major step toward achieving this vision” said Cole Morgan, CEO of Snap! Mobile, Inc.
“We love the product the Groundwork team has created as it delivers financial transparency to school, team, and youth sports organization leaders. We are excited to begin the work to extend this offering to every high school team, club and group and give them something they’ve never had before – a complete financial management solution from fundraising to budgeting, spend tracking, and beyond.”
Groundwork founder Bill Lennon will join Snap! Mobile, Inc. as Vice President and lead its new financial technology team, where he will focus on accelerating the development of its high school financial management platform as well as the deployment of new financial services technology for youth sports organizations, from large youth sports leagues to individual booster clubs and school districts for existing Groundwork users.
Since its inception Groundwork processed more than $152M in payments from 13,800 teams and provides youth sports organizations with a financial management platform built to make managing money safe and easy.
Teams can budget, collect, and spend money under the oversight of their parent organization, which maintains financial controls and transparency into team finance. This makes financial management immensely easier for large organizations with dozens of teams and dynamic spending needs.