Spade

Spade is a company that provides a data-backed transaction enrichment API solution. It was founded in 2021 by Oban MacTavish and Cooper Hart. Spade's technology transforms credit card transaction data, which often appears as gibberish strings of characters, into clear, actionable information. This includes merchant details, categories, geolocation data, and more.

The company's proprietary first-party dataset matches transactions with actual merchant identities, logos, business hours, and spending history. This comprehensive data enrichment enables Spade's customers, such as card issuers, anti-fraud platforms, and neobanks, to implement features like spending controls and improved fraud prevention models.

Spade's solution addresses the challenge faced by companies reconciling numerous employee credit card statements, where merchant names may not match receipts, leading to time-consuming investigations. By cleaning and enhancing the transaction data, Spade provides a complete picture of purchases, including consistent merchant ID numbers across all versions of a merchant.

As of the first quarter of 2023, Spade reported its biggest quarter ever after launching its card issuer products in October 2022. The company's current customer base includes Unit, Solid, Yotta, Daylight, Ness, and Coast.