Accounting TechnologyFunding Report March 2020
March 2020Published 1 April 2020
Accounting and finance software companies raised US$186m across 8 rounds in March, up 177% on February's US$67m. Spend management and payables and receivables took the largest shares.
US$190mRaisedin March
8Rounds5 in February
US$75mLargestPlastiq
US$827m2020 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$107m
Payables and receivables$75m
Tax and compliance$3.7m
Top investors
March, rounds led or joined
- B Capital Group 1 round, led
- Bain Capital Ventures 1 round, led
- Earlybird Digital East Fund 1 round, led
- Eight Roads 1 round, led
- Glade Brook Capital 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Plastiq | US$75m | Series D | B Capital Group | Payables and receivables |
| Huilianyi | CNY 300m | Series C+ | Huaxing New Economic Fund | Spend management |
| Fenbeitong | US$36m | Series B+ | Eight Roads, Ribbit Capital, Glade Brook Capital | Spend management |
| Airbase | US$23.5m | Series A extension | Bain Capital Ventures | Spend management |
| Fiscozen | €3m | Funding round | Tax and compliance | |
| Payhawk | €3m | Seed round | Earlybird Digital East Fund | Spend management |
| Karbon Card | US$2m | Seed round | Spend management | |
| Claimer | £300,000 | Seed round | Tax and compliance |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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