Finaloop raises $35 mn in VC funding led by Lightspeed Venture Partners 

Finaloop, the real-time e-commerce accounting platform, has raised a $35 million in a Series A VC funding round.
Finaloop employeesLightspeed Venture Partners led the VC funding round.

There was participation from Vesey Ventures, Commerce Ventures, and existing investors such as Accel and Aleph.

Finaloop has raised $55 million to date. Brands like Heart & Soil, Duradry, Crossnet, Netrition, and Marcella NYC are using Finaloop.

Finaloop will use the funding to invest in its AI-driven e-commerce accounting software automation and inventory cost management, as well as to expand its go-to-market and partnership efforts with accounting firms and data-driven marketing agencies.

Finaloop has offices in New York and Tel Aviv. Finaloop is revolutionizing the way e-commerce and retail brands handle their finances by offering an automated accounting and bookkeeping service that moves at the speed and scale of their online business.

Finaloop is the first AI-driven accounting service 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.

“The entire e-commerce industry is built on an advanced technological stack with players like Shopify, Amazon, Gusto, Stripe, and others but the accounting and bookkeeping solutions used by these companies were lightyears behind every other tool in their arsenal,” said Lioran Pinchevski, CEO and founder of Finaloop.

“E-commerce operators were left with outdated books using archaic software like Quickbooks, Xero, and Netsuite which were created more than two decades ago and that simply could not keep up with the pace of their unique business,” Lioran Pinchevski said.

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