Finally, SMB Accounting Startup Raises $95 Million

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Accounting and financial automation start-up ultimately raised $95 million in a Series A equity and debt financing round led by PeakSpan Capital, according to a Press release Monday (March 21).

Active Capital, 500 FinTech, GTMfund, GeoCities founder David Bohnett and SessionM founder Scott Weller also participated in the financing, with Clear Haven Capital providing the credit facility.

The new capital injection will be used to expand the company’s workforce and launch a corporate payment card for small and medium-sized enterprises (SMEs). The company was previously known as Back Office.

See also: Companies that automate accounting processes reduce missing invoices by 60%

“Running a small business at all times is daunting,” said Felix Rodriguez, co-founder and CEO of Finally. “Juggling cash flow, taxes, and accounting can often be a distraction from managing and growing their real business. Our mission at Finally is to ease the burden on small business owners and level the playing field. This new funding will allow us to continue to support SMEs.

Founded in 2018 and based in Miami, Florida, Finally was also co-founded by Edwin Mejia, Director of Business Development, and COO Glennys Rodriguez, and helps SMBs automate accounting, finance, and other back-office functions. .

Finally works with over 1,000 companies and has experienced triple-digit growth over the past two years.

Read more: How automation reduces month-end headaches for the CFO

Businesses working with Finally can connect their bank and credit accounts for immediate visibility into the financial health of their businesses.

With the launch of its business credit card, Finally plans to make more than $1 billion in credit available to SMBs.

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