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Finally raises $10m to expand automation solutions for SMBs

By Delisha Fernandes

February 07, 2024

  • accounting
  • Accrual Accounting
  • banking apps
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Bookkeeping, Technology, Accounting, Software, Quickbooks, Xero, Cash Accounting, Accrual Accounting, Financial ServicesFinally, a FinTech startup has raised $10 million in new funding to fuel its growth and expand its suite of solutions for small- to medium-sized businesses (SMBs).

The round was led by PeakSpan Capital with participation from Active Capital. The FinTech startup plans to scale its GTM motion further and grow its product offerings with the new capital, including plans to release mobile versions of its bookkeeping, expense management, and business banking apps.

“When vendor tools are scattered, business owners are too,” said Felix Rodriguez, founder and CEO of finally. “We’re energized by this injection of capital and know it will supercharge our efforts to give SMB owners the best tools to grow their businesses.”

The raise comes after two years of significant momentum for finally; last year the company announced it’s building an AI ledger, offering business banking, and building a new version of its bookkeeping app. The FinTech startup previously raised a $95 million Series A in 2022. Businesses across sectors rely on finally to give them better visibility and management over their finance and accounting activities. finally currently partners with some of the largest and most innovative companies in FinTech, including Visa, Bancorp, and Threadbank.

“PeakSpan is thrilled to double down on Felix and the finally team,” said Jack Freeman, Partner at PeakSpan Capital. “In our two years since partnering, we’ve seen the business meaningfully scale revenue, recruit top talent, launch three new products, and build a repeatable sales engine. The company enters 2024 as a fully-fledged FinTech with a portfolio of products supporting SMBs. We are psyched to see what the finally squad can do with more growth capital and resources this coming year.”

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