Finaloop Raises $35M to Revolutionize Ecommerce Finance
How Finaloop's funding will revolutionize the way DTC, ecommerce, and multichannel brands handle their finances
Finaloop Secures $35M Series A to Transform Ecommerce Accounting
We're thrilled to share some exciting news with our community: Finaloop has secured $35 million in Series A funding, led by Lightspeed Venture Partners, with participation from Vesey Ventures, Commerce Ventures, and existing investors Accel and Aleph. Lightspeed joins our distinguished roster of investors, which includes prominent angels from the DTC ecommerce and tech sectors. This round brings our total funding to $55 million.
You can read TechCrunch's coverage of the funding here.
How Finaloop Is Revolutionizing Real-Time Accounting for DTC Brands
Since launching in 2020, we've been dedicated to transforming how ecommerce and retail brands handle their finances. Our real-time accounting platform, along with our team of ecommerce accounting experts, has been a game-changer for the thousands of brands we work with, helping them make smarter, more profitable business decisions based on real-time financial visibility.
And it genuinely feels like we’re just getting started…
A Community Effort
Our success wouldn't be possible without the incredible support of our customers and partners. Over the past year, the DTC community has been instrumental in our journey, providing invaluable feedback and unwavering trust - as we grew our customer base by 400%, and the GMV managed on our platform to over $13 billion.
As consumer brands across diverse verticals—fashion, beauty, health, home goods, and more—you’ve leveraged our platform to streamline your financial operations and have been super engaged in providing feedback, ideas, and wishlists.
We’ve met at events, chatted over coffee, and jumped on hundreds of calls. Your feedback and belief in our mission have driven us to continuously innovate and improve, and have proven time and time again that we’re not building something for you, we’re building something with you.
As a DTC founder myself, and a part of this community, I not only heard but also felt your feedback and pains, and am proud to be playing a role in it.
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What This Means for You
With this new funding, we're committed to making even more significant improvements to our platform.
Here's what you can expect:
- Advanced Inventory Management: We’re building the first-ever inventory management system reconciled directly with your actual financials and transactions - real-time landed costs per warehouse on FIFO, PO management, unit-by-unit stock tracking, and more…
- B2B and Wholesale: B2B and retail invoicing features and EDI support.
- Ad Spend Accruals: Real-time reconciliation of ad spend.
- Accrual automation: Advanced accrual and prepayment tools.
- KPIs and analytics: Fully reconciled, ledger-based financial KPIs and analytics.
Additionally, anyone who worked with us knows firsthand that providing fantastic professional services is part of our DNA. That’s why we will also be doubling down on expanding our partnership network of vetted ecommerce-first Fractional CFOs, CPAs, and data-driven marketing agencies. You can also expect improved Knowledge Base and a revamped help center.
And that's just in the foreseeable future. We’re obsessive about building, obsessive about accuracy, and insanely hungry.
Looking Ahead
As we celebrate this milestone, we're already hard at work on the next chapter of our journey.
After all, the ecommerce ecosystem is built on an advanced technological stack with players like Shopify, Amazon, Gusto, Stripe, and others - but the accounting and bookkeeping solutions used by DTC companies have been lightyears behind every other tool in the space…This funding will allow us to continue empowering ecommerce brands with real-time financial visibility, enabling better decisions and sustainable growth.
I am proud to be supported by a brilliant, hard-working, and forward-thinking team, and by some of the most well-known investors in the industry - whose shared belief in our vision is a testament to the impact we're making in the ecommerce space.
To the Penny
There's so much more ahead of us, and we're excited to have you on board. Stay tuned for more updates, and as always, thank you for your support as we're shaping the future of ecommerce businesses.
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FAQs
Finaloop offers automated, real-time accounting services specifically built for DTC and multichannel e-commerce brands. It provides reconciled books, cash flow insights, and tax-ready reports, eliminating the need for traditional bookkeeping and multiple tools.
Finaloop's real-time bookkeeping solution includes the technology and app integrations needed to bring your financial data directly from your sources of truth into our ecommerce-tailored accounting software as well as the bookkeeping team to provide the actual bookkeeping services - including reviewing your financials for missed opportunities or unusual transactions and answering any questions you have about your books. For more information about our software, check out our Product page. To learn more about our services and how to create the best financial stack for your business, check out our Services page.
Real-time financial reporting offers instant insights into your eCommerce business's performance. By continuously updating your financial data, it helps you make informed decisions, manage cash flow effectively, and adjust strategies based on up-to-date metrics like revenue, profit margins, and inventory turnover.
Setting up Finaloop takes just 15 minutes. The platform integrates seamlessly with your existing e-commerce tools, payment gateways, and bank accounts.
