A Miami-based startup focused on bookkeeping, accounting, and financial services for small and mid-sized businesses (SMBs), has raised $50 million in a Series B funding round and secured a $150 million credit line, bringing its total funding since its 2018 inception to $305 million. The company, founded by Felix Rodriguez, Glennys Rodriguez, and Edwin Mejia, offers AI-powered bookkeeping, financial services, and a corporate card with expense management and business banking functions.
Finally aims to simplify finance management for SMB owners by providing a multi-product platform that consolidates various financial tools and services. Since its $95 million Series A funding in 2022, the company has grown its revenue by 300% and now serves over 1,500 businesses in the U.S. It earns revenue through SaaS subscription fees, interchange fees, and interest income. The company plans to use the new funding to enhance its sales, marketing, and product offerings, including global hiring support and payment features.
PeakSpan Capital led the equity funding, while Encina provided the credit facility. Finally continues to grow, expanding its team to over 220 employees, including hiring former Calendly CTO Roy Duvall as its Chief Technology Officer. The startup faces competition from others in the space, such as Brex, Ramp, AccountsIQ, and Pennylane, which have also raised significant funding.