RenPSG Acquires Pinkaloo Technologies
RenPSG, a leading innovator in reshaping today’s philanthropic economy, today announced the acquisition of Baltimore, Maryland-based Pinkaloo, a developer of modern giving solutions. Together, the combined organizations will enable financial institutions, philanthropies, foundations, employers and corporations to play a more pivotal role in growing the social impact economy — with compelling, engaging and social solutions designed for a new generation of philanthropists.
Population trends consistently show that the two largest generations in U.S. history — Millennials and Gen Zers — are highly diverse, digital natives that prioritize their deeply rooted passions, social impact and ongoing engagement. They are also more likely to fund the causes they care about, more frequently, than previous generations, leveraging technology and social media extensively in their giving. RenPSG saw Pinkaloo as the ideal partner to revolutionize the donor experience and expand the philanthropic giving overall.
"There's really an untapped component of this market, especially as you see the demographics of the world with the Millennials and Gen Z coming into the fold. How do we start to tap into that, and not only enable them but let them become part of this ecosystem? If you look at the root of the Pinkaloo acquisition, it's really a growth vehicle for us to enable growth in the entire philanthropic economy," Joseph Fisher, president CEO of RenPSG, said in an exclusive interview with NonProfit PRO.
He continued, "We looked at [Pinkaloo] and we said, 'There's a huge modernization piece, and they've got some great technology, but they tap into that vein of expansion — how are we not only going to move money faster to those charitable organizations, but how are we going to move more? Who does it in a modern fashion? Who does it simple? And who starts to think outside of the box in not only capturing the feature or function but some of the cognitive and some of the emotional pieces?'"
“Today’s philanthropic ecosystem demands ongoing innovation in how we recruit, engage and retain donors — all while also giving donors the best possible experience,” said Gideon Taub, founder and CEO at Pinkaloo. “Donors want to be involved and drive change via small and large contributions alike. They need a robust platform to do just that — and a RenPSG-Pinkaloo team uniquely answers that demand. FinTech products have transformed virtually every dimension of money management, and today we are applying that same level of innovation in the charitable giving marketplace.”
With more than three decades of charitable giving expertise, RenPSG supports many of the nation’s largest and most prominent financial institutions and nonprofit organizations, with technology and managed services that deliver the comprehensive administration, compliance and expertise needed to efficiently manage philanthropic programs at scale. Together with Pinkaloo, RenPSG aims to amplify philanthropic participation with post-acquisition solutions that:
- Deliver easy, engaging and social solutions that drive adoption and growth
- Streamline grant automation and automate charity verification — for faster, more efficient delivery of funds
- Provide built-in ACH settlement to streamline administration and fund distribution
- Supply powerful APIs that can be integrated into existing solutions and used to design richer, more effective donor experiences
Terms of the sale were not disclosed.
Today, Joe Fisher and Gideon Taub will co-present during a session with American Banker titled, “Next Gen-erosity: How Technology and Evolving Attitudes Toward Wealth are Reshaping Customer Approaches to Philanthropy.” For more information or to register, visit American Banker.
Editor's Note: This press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO and its staff.