Finaloop, a Brooklyn, NY- and Tel Aviv, Israel-based real-time e-commerce accounting platform, raised $35m in Series A funding.
The round was led by Lightspeed Venture Partners with participation from Vesey Ventures, Commerce Ventures, and existing investors, Accel and Aleph.
The company, which brought total funding to $55m, intends to use the funds to further invest in its AI-driven e-commerce accounting software automation, its inventory management capabilities, as well as to expand its go-to-market and partnership efforts with accounting firms and data-driven marketing agencies.
Launched in 2020 and led by Lioran Pinchevski, CEO, Finaloop is an AI-driven, automated e-commerce accounting platform providing bookkeeping and accounting services that fully reconcile all the financial data in real-time, supplying consumer brands with books, tax-ready financials, inventory costs management, and actionable insights 24/7 with accuracy. It combines deep accounting domain expertise built into software, and utilizes AI supervised by accounting and e-commerce experts.
Finaloop is tailored for direct-to-consumer (DTC) brands selling on Shopify, Amazon, Walmart, and many other online stores and marketplaces, as well as wholesale and multi-channel businesses.
It is used by DTC brands like Heart & Soil, Duradry, Crossnet, Netrition, and Marcella NYC.
FinSMEs
17/06/2024