INDIANAPOLIS & BOSTON–(BUSINESS WIRE)–Ren (or the “Company”), the trusted technology partner to top financial institutions and thousands of non-profit organizations, today announced it has received a strategic growth investment from Bain Capital Tech Opportunities and Valeas Capital Partners. The investment, Ren’s first institutional capital to date, will be used to fund new product features, rapidly scale the team, support financial advisor and client awareness of donor-advised funds (DAFs), and expand Ren’s charity network. Financial terms of the private transaction were not disclosed.
DAFs are the fastest-growing mechanism for charitable giving in the United States, enabling contributions in a simpler, easier, and more cost-effective manner. DAFs have grown from 7% of annual charitable contributions in 2017 to 15% in 2021, and represent more than $234 billion in Assets Under Administration.