Truewind, a San Francisco, CA-based AI-powered accounting and financial planning for startups, raised $3 million in seed funding.
SaaS Investors
The funding round was led by Fin Capital and Y Combinator, along with Fellows Fund, Scrum Ventures, Beat Ventures, Soma Capital, SV Tech Ventures, and Hike Ventures.
Founded in 2018, Fin Capital is a venture capital firm that invests in the B2B fintech sector with a focus on enterprise SaaS across the United States and Europe. The firm seeks to invest in seed-stage, early-stage, growth-stage, and later-stage companies.
Y Combinator is an accelerator firm founded in 2005 and based in Mountain View, California. The firm prefers to invest in b2b software and services, education, consumer, healthcare, real estate and construction, financial technology, industrials, and government sectors.
Truewind Use of Funds
The company intends to use the funding to accelerate the development of its AI-powered bookkeeping and finance platform, leading the way to transform the finance and accounting industry.
About Truewind
Founded by Alex Lee and Tennison Chan, Truewind is an AI-powered bookkeeping and finance solution. The company's platform delivers a financial back office experience through AI and concierge service, enabling startups with a financial model, reliable bookkeeping, and detailed financial models for smooth operations. They use Large Language Models (LLMs), like GPT, to capture the business context needed to interpret financial data correctly. The company was founded in November 2022 and participated in the Y Combinator Winter '23 batch.
Funding Details
Company: Truewind
Raised: $3.0M
Round: Seed Round
Funding Month: September 2023
Lead Investors: Fin Capital and Y Combinator
Additional Investors: Fellows Fund, Scrum Ventures, Beat Ventures, Soma Capital, SV Tech Ventures, and Hike Ventures
Company Website: https://www.truewind.ai/
Software Category: AI-powered Accounting and Finance Software
Source: https://www.truewind.ai/blog/seed-round-announcement