Provides a financial management platform tailored for nonprofits, combining banking services, expense tracking, and compliance tools in a single interface. It streamlines operations by offering features like custom debit card controls, automated tax letter generation, and intraFi sweep networks for up to $150M in FDIC insurance, enabling organizations to manage funds efficiently and securely.
Funding
Funding not disclosed
Founders
Product
Problem
Nonprofit organizations often struggle with inefficient financial management due to disparate systems for banking, expense tracking, and compliance, leading to increased administrative overhead and potential errors. This complexity makes it difficult to maintain transparency, track project-specific finances, and ensure compliance with regulatory requirements.
Solution
Mazlo provides a unified financial management platform tailored for nonprofits and fiscal sponsors, integrating banking services, expense management, and compliance tools into a single interface. The platform offers features such as smart debit cards with custom spend controls, automated tax letter generation, and accounts payable/receivable workflows to streamline financial operations. Mazlo also provides real-time financial visibility, allowing project managers to track balances and transactions instantly, while ensuring funds are protected with 2FA, biometric authentication, and fraud alerts. The platform is designed to work alongside existing systems, allowing for a flexible and gradual adoption.
Target Audience
Mazlo primarily serves nonprofit organizations and fiscal sponsors seeking to streamline their financial operations, improve transparency, and reduce administrative overhead.
Features
- Bespoke checking accounts designed for the unique needs of nonprofit organizations
- Smart debit cards with custom spend controls for transparent project spending
- Automated tax letter generation and transaction coding for simplified compliance
- Real-time tracking of project and program balances for enhanced financial visibility
- Automated ACH, EFT, and vendor payments for faster disbursements
- Integration with existing accounting platforms and tools
- Mobile app for managing finances on the go
- IntraFi sweep networks to insure funds up to $125M