finally – a fintech startup helping businesses automate their accounting and finance functions – announced it raised $10 million in new capital to continue hiring and expand its suite of solutions to SMBs. PeakSpan Capital led the funding round with participation from Active Capital.
finally integrates essential business processes like bookkeeping, expense management, bill payment and payroll, into one automated solution for SMBs. And the raise comes after two years of significant momentum for finally. Last year, the company announced it is building an AI ledger, offering business banking, and building a new version of its bookkeeping app. And finally previously raised a $95 million Series A in 2022.
finally plans on scaling its GTM motion further and growing its product offerings with the new capital, including plans to release mobile versions of its bookkeeping, expense management, and business banking apps. And finally will also expand headcount on the bookkeeping and expense management sales teams to reach new customers and continue its high-growth journey to becoming the one-stop-shop for SMB finance.
Businesses across sectors depend on finally to give them better visibility and management over their finance and accounting activities. And finally currently partners with some of the largest and most innovative companies in fintech, including Visa, Bancorp, and Threadbank.
KEY QUOTES:
“When vendor tools are scattered, business owners are too. We’re energized by this injection of capital and know it will supercharge our efforts to give SMB owners the best tools to grow their businesses.”
- Felix Rodriguez, founder and CEO of finally
“There aren’t many solution providers that also give you access to capital. finally does both — free of interest rates while making the lives of customers easier. As a business owner, selecting finally is a no-brainer.”
- Chris Marin, CEO of Convert.AI
“PeakSpan is thrilled to double down on Felix and the finally team. In our two years since partnering, we’ve seen the business meaningfully scale revenue, recruit top talent, launch three new products, and build a repeatable sales engine. finally enters 2024 as a fully-fledged fintech with a portfolio of products supporting SMBs. We are psyched to see what the finally squad can do with more growth capital and resources this coming year.”
- Jack Freeman, Partner at PeakSpan Capital
