Jun 17, 2024, 13:06 ET

NEW YORK and TEL AVIV, Israel, June 17, 2024 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 their total funding to $55 million.

A statement released by the company said “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.”

“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.”

About Lightspeed
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsvp.com

About Finaloop
Finaloop is an AI-driven, automated e-commerce accounting platform providing bookkeeping and accounting services that fully reconcile all the financial data in real-time, supplying consumer brands with flawless books, tax-ready financials, inventory costs management, and actionable insights 24/7 with complete accuracy. Combining deep accounting domain expertise built into software, and utilizing AI supervised by accounting and e-commerce experts, Finaloop provides the financial data brands need to stop wasting time and money, make smarter decisions, and focus on growing their profits.

For additional company information, please visit https://www.finaloop.com

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