logo
logo

Finaloop raises $35 million in a Series A funding round led by Lightspeed Venture Partners to develop an e-commerce accounting platform

Jun 17, 2024about 1 year ago

Amount Raised

$35 Million

Round Type

series a

BrooklynE Commerce

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.

Company Information

Company

Finaloop

Location

Brooklyn, New York, United States

About

Finaloop reconciles all financials in real-time, providing ecommerce and DTC brands flawless books, optimized tax returns, and actionable insights 24/7 with 100% accuracy. We replace your accounting software, your integrations, your bookkeeper and tax CPA, so you stop wasting your precious time and money, make smarter decisions and handle taxes on time. Grow your business, make more money and beat your competition with flawless financials and actionable real-time business data.

Related People

Funding Insights

Based on industry data
VC-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