Most users are very willing to link their bank accounts with popular financial applications like Venmo, Coinbase, and Robinhood. However, the data exchange that underpins those seamless monetary transfers is merely the first iteration of a new paradigm in the financial world: open finance.

Open finance enables a world where consumers and financial service providers can access financial data like spending, investments, payroll, loans, and tax information via API. With it, they can understand their financial situation and make better decisions about budgeting, borrowing, lending, and financial products. With questions of technical capability and regulatory permission mostly settled, the ability of data aggregators to deliver timely, comprehensive consumer financial data now steers the industry’s movement towards a world of open finance.

Yet while open finance tools now provide consumers with access to information about their financial assets, information about their debts and liabilities remains far less accessible, more opaque, and more scattered. The consumer debt market is an enormous part of the US financial ecosystem. Federal Reserve Data reports $19T of outstanding consumer liabilities. Equifax data shows that Americans are on track to originate 134M consumer loans across auto, bank and private label cards, mortgages, HELOC, consumer finance, and student categories in 2025 alone. Consumer debt is also a critical source of stress for many American households.

Unlike the asset side of their lives, data about the average American’s debts and liabilities are spread across multiple loan providers running legacy tech stacks. All this in an industry where nuanced, granular, and real-time data is essential for consumers to know exactly how much they owe, to whom, and when it’s due. Consumers are eager to budget, manage debt, and improve their credit scores, and banks and FIs are eager to meet the need with budgeting applications, credit monitoring, and credit-building tools. All that’s missing is the data aggregation connecting the two.

At F-Prime, we’re proud to have backed foundational companies like Quovo, Even Financial, and Kensho that allowed consumers and financial services providers unprecedented visibility and access to users’ financial assets. Now, we’re excited to partner with Tomás Campos, Tushar Vaish, and the Spinwheel team to do the same for their liabilities. Spinwheel is an API for consumer liability data that provides consumers, banks, lenders, and fintech companies with the ability to aggregate, understand, and manage consumer debt. It uses proprietary direct integrations and agentic workflow to collect permissioned, consumer liability data across credit card transactions, mortgages, auto loans, student loans, personal loans, and more, with the highest degree of coverage and accuracy in the market today. We’re excited to lead Spinwheel’s $30M Series A and join them at the forefront of financial infrastructure.