On June 17, 2024, the New York-based AI-powered e-commerce accounting platformFinaloopannounced it had raised $35 million in Series A funding. The round was led by Lightspeed Venture Partners, with participation from Vesey Ventures, Commerce Ventures, and existing investors Accel and Aleph.
The company plans to use the raised funds to further invest in the automation of its AI-driven e-commerce accounting software, inventory management capabilities, and to expand its go-to-market efforts and partnerships with accounting firms and data-driven marketing agencies.
Finaloop was founded in 2020, with Lioran Pinchevski serving as CEO and founder. The company provides an AI-driven automated e-commerce accounting platform offering bookkeeping and accounting services, with real-time comprehensive reconciliation of all financial data for automated accounting and bookkeeping services. Finaloop is the first real-time, AI-driven accounting service tailored for direct-to-consumer (DTC) brands selling on Shopify, Amazon, Walmart, and many other online stores and marketplaces, as well as wholesale and multichannel businesses.
(Source:PR Newswire）