Fundz

Formations Raises $8 Million Series A To Expand Its Cfo-As-A-Service Platform For Self-Employed Professionals

PRIVATEApr 13, 2022

Amount Raised

$8 Million

Round Type

Series A

BellevueFinancial ServicesSoftware

Description

Formations, a financial management solution that maximizes the financial wellbeing of the self-employed, today announced the completion of an $8 million Series A funding round led by Arthur Ventures. The investment comes on the heels of YoY growth of 500%. It will help Formations further develop its solution and advance its aim of democratizing access to financial tools and strategies for the self employed, the largest and most under-served workforce, and offer services previously available only to those with access to heavy financial backing.

Who else raised in Financial Services and Software around the same time

Companies in the same sectors as Formations that raised within 45 days of this round, from Fundz verified event records.

  • Arkestro raised $40M on May 27, 2022.
  • Ryan raised an undisclosed amount on May 26, 2022.
  • Kafene, Inc. raised $14M on May 26, 2022.
  • Innoviti raised $9.6M (Funding Round) on May 26, 2022.
  • TransferMate raised $70M (Funding Round) on May 23, 2022.
  • Victory Farms raised $5M (Funding Round) on May 19, 2022.

Who to call at Formations, and when

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Company Information

Company

Formations

Location

Bellevue, Washington, United States

About

Formations is a Bellevue-based startup with a comprehensive financial management platform designed to enhance the financial well-being of the self-employed. Formulated over 17 years by tax accountants, their vertical-specific playbook automates bookkeeping, payroll, taxes, and benefit allocations, democratizing tax and accounting strategies to help solo entrepreneurs sustain their businesses for the long term. Please visit Formations for further info.

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Funding Insights

What this usually means
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months

Formations raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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