Finaloop raises $35 million in a Series A funding round led by Lightspeed Venture Partners to develop an e-commerce accounting platform
Jun 17, 2024•about 1 year ago
Amount Raised
$35 Million
Round Type
series a
Investors
AlephAccelCommerce VenturesVesey VenturesLightspeed Venture Partners
Description
Finaloop, a company that provides an accounting solution tailored to the unique needs of e-commerce companies, has raised $35 million in a Series A funding round led by Lightspeed Venture Partners. The round also saw participation from Vesey Ventures, Commerce Ventures, and existing investors, Accel and Aleph. The company has witnessed a fourfold growth in the number of customers and a sevenfold increase in revenue, leading to a significantly higher valuation in this funding round.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech