“As each has received a gift, use it to serve one another, as good stewards of God’s varied grace.”
1 Peter 4:10
Dear Kingdom Builders,
There are more than 415,000 Christian organizations in the United States. And Wall Street now has a publicly traded company built specifically to serve them.
When Christians hear “Christian economy,” we tend to think about books, music, movies or consumer brands. But beneath all of that sits a massive institutional economy of churches, ministries, schools and nonprofits spending billions of dollars simply to operate.
Gloo is a technology platform for the “faith and flourishing ecosystem.” It went public on Nasdaq last year. Its most recent filing cites research estimating that faith-based organizations across all religions generated more than $265 billion in revenue in 2025, with Christian organizations accounting for roughly 88% of aggregate U.S. religious-organization revenue.
Gloo is known for providing technology, media, fundraising, and business infrastructure to churches, ministries and other mission-driven organizations. But its latest filing suggests Gloo is expanding well beyond technology, and its strategy reveals how much broader the Christian institutional market already is.
Since entering the public markets, Gloo has completed five strategic acquisitions spanning major-donor fundraising, marketing, Workday consulting, software engineering and outsourced finance.
Gloo is rolling up the infrastructure that supports Christian institutions.
American Christianity is extraordinarily fragmented. Hundreds of thousands of churches, ministries and nonprofits operate independently, often with very different theology, leadership and missions.
But they still need many of the same things: accountants, fundraising systems, technology, marketing, payroll, data, financial management, etc.
Large corporations build those capabilities internally. Most Christian organizations can't. Gloo's strategy is effectively to centralize them externally.
The filing says acquisitions are intended to add capabilities, expertise and customer relationships across the platform. It also reports that a growing number of its largest customers are now purchasing services from multiple Gloo businesses.
The Christian economy is not just Christians buying Christian products. It is also hundreds of thousands of institutions buying ordinary business services every day.
That could create an enormous opportunity for ordinary businesses built for Christian institutions. We may be watching a new Christian market vertical emerging before our eyes.
Have a blessed week.
Matt
For informational purposes only. Not investment, financial, tax, or legal advice of any kind.
In this conversation with Baylor University’s endowment team, we discussed how a Christian institution approaches investing, manager selection, stewardship and long-term capital allocation.
What began as a study of Catholic charitable giving evolved into a much bigger question: What if Christians brought the same faith and stewardship principles to how they invest their wealth, not just how they give it away?
After reaching the top of country music, Jelly Roll says he would walk away from his music career, even to work at a homeless shelter, if he believes that’s where God is calling him next.
30-Second Investment Terms and Strategies
Roll-Up Strategy
Roll-up strategy is a growth strategy built around buying multiple businesses in the same fragmented market and creating value by combining them.
What it is: Rather than growing only by winning new customers organically, a company expands by acquiring existing businesses, their customers, employees, capabilities, and revenue.
Where it appears: Industries with many independent operators, such as healthcare, home services, software, accounting, and financial services.
Why it matters: A roll-up can create value through shared systems, lower overhead, stronger purchasing power, broader capabilities, and cross-selling. The strategy works best when the combined platform becomes more valuable than the individual businesses were on their own.
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