finally, the AI-Powered Accounting & Finance Suite, Closes $10M Raise to Propel SMB Growth Forward

Originally published here in Business Wire

MIAMI--(BUSINESS WIRE)--Today, finally, the fintech startup helping businesses automate their accounting and finance functions, announced it raised $10 million in new capital to continue hiring and expand its suite of solutions to SMBs. The round was led by PeakSpan Capital with participation from Active Capital.

finally incorporates essential business processes, such as bookkeeping, expense management, bill payment and payroll, into one automated solution for SMBs. 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. finally previously raised a $95 million Series A in 2022.

finally 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. finally will also expand headcount on the bookkeeping and expense management sales teams to reach new customers and continue its high-growth journey to becoming the one-stop-shop for SMB finance.

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.

“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.”

“There aren’t many solution providers that also give you access to capital,” says Chris Marin, CEO of Convert.AI. “finally does both — free of interest rates while making the lives of customers easier. As a business owner, selecting finally is a no-brainer.”

“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. finally 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.”