Archil raised $6.7M in Seed funding led by Felicis with participation from top investors including Y Combinator and others to expand operations.

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The company is working to streamline operations at other fintech startups, specifically through its reconciliation software that those companies can use to help ensure they’re working with accurate and precise data even when it comes from different places, co-founder and CEO Kyle Maloney told TechCrunch. But Proper’s product isn’t an API, because the company itself handles building out integrations rather than simply providing developers with the tools to do so themselves, Gibson explained. The first is “balanced reconciliation,” where the startup tracks money at banks and external parties to verify that funds they believe have been transferred have made it to the destination. The startup, which participated in Y Combinator’s Winter 2022 cohort, announced today that it has closed a $4.3 million seed round led by Redpoint Ventures with participation from BoxGroup, Mischief, Y Combinator, and others. In the long-term, he said, Proper does plan to build APIs and expand its portfolio of integrations.A screenshot of Proper’s data reconciliation platform Image Credits: ProperProper uses two main strategies to ensure data accuracy, Gibson explained.