What is Daffy?
Daffy is a contemporary donor-advised fund platform and not-for-profit community headquartered in Redwood City, California. Founded in 2021 by Adam Nash and Alejandro Crosa, Daffy offers a streamlined approach to charitable giving via its mobile and web-based platform. As a registered 501(c)(3) not-for-profit organization, Daffy facilitates charitable contributions by enabling individuals and families to set aside funds for donation through donor-advised accounts. The platform supports contributions in various forms, including cash, stocks, cryptocurrency, and transfers from existing donor-advised funds. Members can invest their charitable contributions to potentially grow tax-free and donate to over 1.5 million charities nationwide. Daffy simplifies the giving process by allowing users to establish giving goals, automate recurring donations, and manage all philanthropic activities in one place. Differentiating itself from traditional models, Daffy employs a straightforward monthly membership fee structure instead of percentage-based fees, enhancing transparency and accessibility in charitable giving. Members benefit from instant tax deductions on contributions and can easily direct funds to qualified charities, fostering a community committed to consistent philanthropic engagement.
How much funding has Daffy raised?
Daffy has raised a total of $17.1M across 1 funding round:
Series A
$17.1M
Series A (2022): $17.1M with participation from Ribbit Capital, Coinbase, and XYZ Venture Capital
Key Investors in Daffy
Ribbit Capital
Ribbit Capital is a venture capital firm that invests globally in unique individuals and brands aiming to disrupt financial services. Headquartered in Palo Alto, Ribbit supports entrepreneurs building the future of finance.
Coinbase
Coinbase provides financial infrastructure and technology for the crypto economy, offering a primary financial account for consumers and a marketplace for transacting crypto assets for institutions.
XYZ Venture Capital
XYZ Venture Capital invests in early-stage founders, particularly in fintech and enterprise sectors, to help them build enduring companies by focusing on execution and providing support from the earliest stages of company building.
What's next for Daffy?
With the recent major strategic investment, Daffy is poised for significant expansion and enhancement of its charitable giving platform. This capital infusion, part of its $17.1M in total funding, suggests a growth phase focused on scaling operations, broadening its user base, and potentially developing new features to further reduce friction in the philanthropic process. The company's not-for-profit model, combined with its investment options for donor-advised funds and a transparent membership fee structure, positions it to capture a larger share of the market seeking more accessible and efficient ways to give. Future developments may include deeper integrations with financial planning tools, expanded cryptocurrency support, and enhanced community-building features to encourage more frequent and impactful charitable engagement.
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