Pinwheel, API for Payroll Data, Raises $7M in Seed Round

Pinwheel officially came out of stealth today and announced that it has raised a $7 million seed round from Josh Kopelman at First Round Capital and Greg Bettinelli at Upfront Ventures, who will both join the company’s board.
Pinwheel provides an API layer for payroll data that handles everything from income and employee verification to easily switching and managing direct deposit. “Even in 2020 right now, most people still have to submit a paper pay stub or tax document every time they need to substantiate [their] data,” CEO Lin said. Pinwheel wants to be the layer to power all of this data flow.