Finaloop Raises $35 Million in Series A Funding to Revolutionize Ecommerce Accounting with AI
Finaloop, an AI-driven accounting platform catering to ecommerce, has secured $35 million in its Series A funding round, setting its sights on transforming financial management for online businesses. The round was led by Lightspeed Venture Partners, with participation from new investors Vesey Ventures and Commerce Ventures, alongside existing backers Accel and Aleph. This brings Finaloop’s total funding to $55 million.
Based in Tel Aviv and New York, Finaloop offers an automated accounting and bookkeeping system tailored to the fast-paced nature of ecommerce operations. Founder and CEO Lioran Pinchevski emphasized the platform’s ambition to modernize financial practices within the industry, stating, “We’re witnessing a seismic shift in ecommerce towards profitability and financial stewardship. Finaloop provides real-time financial visibility, empowering brand founders to excel not only as marketers but as strategic operators.”
Pinchevski expressed excitement about partnering with Lightspeed, noting a shared vision to establish Finaloop as the foremost financial solution for retail brands. The platform addresses a critical gap in ecommerce technology, where existing accounting tools often fail to keep pace with other advanced operational systems.
This funding round highlights the growing importance of advanced financial tools in ecommerce, underscoring Finaloop’s commitment to enhancing the financial IQ of ecommerce entrepreneurs worldwide.
Source: TechCrunch
