[Funding News] NY-based Finaloop Raises $35M Series A Led By Lightspeed Venture Partners

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 Finaloop’s distinguished roster of investors, which includes prominent angels from the DTC ecommerce and tech sectors. This round brings total funding to $55 million.

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With this new funding, Startup is committed to making even more significant improvements to platform including Advanced Inventory Management, B2B and Wholesale, Ad Spend Accruals, Accrual automation, and KPIs and analytics. It 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.

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“The entire ecommerce industry is built on an advanced technological stack with players like Shopify, Amazon, Gusto, Stripe and others, but the accounting and bookkeeping solutions used by these companies were lightyears behind every other tool in their arsenal,” said Finaloop founder and CEO Lioran Pinchevski.

About Finaloop

Founded in 2019, Finaloop reconciles all financials in real-time, providing ecommerce and DTC brands flawless books, optimized tax returns, and actionable insights 24/7 with 100% accuracy. Finaloop replace your accounting software, integrations, bookkeeper and tax CPA, so you stop wasting your precious time and money, make smarter decisions and handle taxes on time. Grow your business, make more money and beat your competition with flawless financials and actionable real-time business data.