Finaloop, a Brooklyn, NY-based real-time e-commerce accounting platform, raised $35 million in Series A funding.
Investors
The round was led by Lightspeed Venture Partners, with participation from Vesey Ventures, Commerce Ventures, and existing investors Accel and Aleph. This brings Finaloop's total funding to $55 million.
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia.
Finaloop Use of Funds
The company will use the funds to enhance its AI-driven e-commerce accounting software, improve inventory management capabilities, and expand its market presence and partnerships with accounting firms and marketing agencies.
About Finaloop
Finaloop provides an AI-driven, automated e-commerce accounting platform offering bookkeeping and accounting services. Founded in 2020 with offices in New York and Tel Aviv, their platform provides stakeholders with real-time financial data, facilitating better business decisions for DTC brands on platforms like Shopify, Amazon, and Walmart, as well as for wholesale and multi-channel businesses. Finaloop is used by well-known Direct-to-Consumer (DTC) brands such as Heart & Soil, Duradry, Crossnet, Netrition, and Marcella NYC.
Funding Details
Company: Finaloop, Inc.
Raised: $35.0M
Round: Series A
Funding Month: June 2024
Lead Investor: Lightspeed Venture Partners
Additional Investors: Vesey Ventures, Commerce Ventures, Accel, Aleph
Company Website: https://www.finaloop.com/
Software Category: Accounting
Source: https://www.prnewswire.com/news-releases/finaloop-secures-35-million-in-series-a-investment-led-by-lightspeed-venture-partners-302174472.html