# Spruce Finance funding: rounds and investors

> Spruce Finance has raised $180M across 3 rounds since 2016. Investors include SVB Capital, Investec and HPS. Every round with its source.

Source: https://millionrounds.com/company/spruce-finance (Millionrounds; every figure on the page links to its filing or article)

United States · [Growth startup](https://millionrounds.com/companies)

# Who invested in *Spruce Finance*

3 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy Fintech

Funding summary Updated 26 Oct 2026

**$180M** raised across 3 rounds since 2016, from 3 sources

**$105M** Debt **$25M** Round **$50M** Growth

- **Latest round:** Growth, $50M May 2019
- **Biggest round:** $105M Debt · Dec 2016
- **Step-up i:** 2×
- **Investors:** 3

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2017 2018 2019

**$105M** Debt

**$25M** Round

**$50M** Growth

- **First round:** Debt, $105M
- **Biggest round:** $105M
- **Usual gap between rounds:** 22 months

## The rounds

- **May 2019** Growth **$50M** *1 returning* [SVB Capital](https://millionrounds.com/fund/svb-capital) Source recorded
- **Jun 2017** Round **$25M** *1 new* HPS Reported by FinSMEs
- **Dec 2016** Debt **$105M** *2 new* [SVB Capital](https://millionrounds.com/fund/svb-capital) [Investec](https://millionrounds.com/fund/investec-emerging-companies) Reported by FinSMEs

## Founders and team

From the SEC filings it signed: 5 on the team.

- **Barry Edinburg** Executive Officer i
- **Matthew Melius** Executive Officer i
- **Nicholas Mack** Executive Officer i
- **Robert Kreamer** Executive Officer, Director i
- **Robert Young** Executive Officer i

On the board, as filed i *Alexander Weiss* *Benjamin Kortlang* *Dan Pillemer* *Daniel Oros* *Ed Feo* *Joe Kraus*

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Debt** 2016 **Round** 2017 **Growth** 2019 [SVB Capital](https://millionrounds.com/fund/svb-capital) [Investec](https://millionrounds.com/fund/investec-emerging-companies) HPS

## Everyone who backed them

[SVB Capital](https://millionrounds.com/fund/svb-capital) VC firm **2** rounds

[Investec](https://millionrounds.com/fund/investec-emerging-companies) VC firm **1** round

HPS no record of our own yet **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=spruce-finance).

## Also claim to have backed them

This firm lists Spruce Finance as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above.

[Clymate Studios](https://millionrounds.com/fund/clymate-studios) Venture studio Per its own site

## Quick answers about Spruce Finance

### Who invested in Spruce Finance?

Spruce Finance's investors include SVB Capital, Investec and HPS.

### How much has Spruce Finance raised?

Spruce Finance has raised $180M across 3 rounds since 2016.

### When did Spruce Finance last raise?

Spruce Finance's most recent round was a Growth of $50M in May 2019.

### What was Spruce Finance's biggest round?

Spruce Finance's largest round on record is $105M (Debt), in Dec 2016.

### Who backed Spruce Finance first?

Spruce Finance's first round on record, in Dec 2016, was backed by SVB Capital and Investec.

### What stage is Spruce Finance at?

Spruce Finance's latest named round is a Growth, in May 2019.

### Where is Spruce Finance based?

Spruce Finance is based in the United States.

## Companies like Spruce Finance

In the same sector, and raised in the last eighteen months.

[**Amogy** $125M · Oct 2026](https://millionrounds.com/company/amogy)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**LanzaJet** $67M · Oct 2026](https://millionrounds.com/company/lanzajet)[**Pivot Energy** $500M · Oct 2026](https://millionrounds.com/company/pivot-energy)[**Pennsylvania American Water** $43M · Oct 2026](https://millionrounds.com/company/pennsylvania-american-water)

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