Finaloop is a real-time ecommerce accounting platform based in Tel Aviv and Brooklyn, NY. It raised $35m as part of its Series A funding.
Lightspeed Venture Partners led the round, with participation by Vesey Ventures , Commerce Ventures and existing investors Accel and Aleph.
The company intends to invest the $55m in further investing in its AI-driven ecommerce accounting software automation and its inventory management capabilities. It will also expand its go-to market and partnership efforts with data-driven marketing and accounting firms.
Finaloop, an AI-driven automated ecommerce accounting platform, will be launched in 2020 under the leadership of Lioran Pinchevski. It provides bookkeeping and accounting solutions that reconcile all financial data in real time, providing consumer brands with accurate books, tax-ready financials and inventory costs management. It combines deep domain expertise in accounting built into software and uses AI supervised by accounting experts and ecommerce experts.
Finaloop is designed for direct-to consumer (DTC) brands that sell on Shopify, Amazon and Walmart, as well as other online marketplaces and stores. It also works for wholesalers and multi-channel businesses.
DTC brands such as Heart & Soil Duradry Crossnet Netrition and Marcella NYC use it.
FinSMEs
17/06/2024