The Finaloop team (company pic)
Finaloop, the real-time accounting platform for e-commerce businesses, has secured $35 million in Series A funding led by Lightspeed Venture Partners. This brings their total funding to $55 million and fuels their mission to transform how online retailers manage their finances.
Since launching in 2020, Finaloop has grown rapidly, with a 400% increase in customers and over $13 billion in Gross Merchandise Value (GMV) managed on their platform. This success is attributed to their innovative platform and a deep understanding of the e-commerce industry.
“Our success wouldn’t be possible without the incredible support of our customers and partners,” says a company spokesperson. Finaloop emphasizes the importance of the DTC (Direct-to-Consumer) community, highlighting their role in providing feedback and driving innovation.
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The new funding will be used to significantly enhance the Finaloop platform. Key areas of focus include:
Advanced Inventory Management: Real-time inventory data with features like landed costs, PO management, and unit-by-unit tracking.
B2B & Wholesale Support: Features for B2B invoicing, EDI (Electronic Data Interchange), and wholesale operations.
Advertising & Finance Integration: Real-time reconciliation of ad spend with financial data.
Enhanced Automation: Advanced tools for managing accruals and prepayments.
Deeper Financial Insights: Comprehensive financial KPIs and analytics based on reconciled ledger data.
Expanding the Ecosystem
Beyond platform improvements, Finaloop plans to invest in expanding its network of e-commerce specialists. This includes partnerships with Fractional CFOs, CPAs, and data-driven marketing agencies. Additionally, they’ll be improving their knowledge base and help center resources.
Finaloop’s dedication to building, accuracy, and innovation positions them for continued growth within the e-commerce accounting space. This new funding fuels their commitment to empowering online retailers with the tools and expertise needed to make smarter financial decisions.
While e-commerce businesses leverage cutting-edge platforms like Shopify, Amazon, and Stripe, their accounting solutions have remained far behind. This funding allows Finaloop to bridge this gap by empowering DTC brands with real-time financial insights. With this newfound clarity, businesses can make smarter decisions that fuel sustainable growth.
Finaloop’s success wouldn’t be possible without its incredible team and esteemed investors. The team’s dedication, talent, and innovative spirit are the driving force behind the company’s impact. The support from industry-leading investors further validates Finaloop’s vision and its transformative role in the e-commerce landscape.
