Accounting TechnologyFunding Report April 2020
April 2020Published 1 May 2020
Accounting and finance software companies raised US$403m across 15 rounds in April, up 117% on March's US$186m. Payables and receivables and payroll took the largest shares.
US$400mRaisedin April
15Rounds8 in March
US$160mLargestAirwallex
US$1.23bn2020 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$309m
Payroll$41.5m
ERP and general ledger$22m
Spend management$13m
Close and reconciliation$12m
Treasury$4.3m
Document capture$1.1m
Top investors
April, rounds led or joined
- Mastercard 2 rounds, 1 led
- Base10 Partners 1 round, led
- Bizcuit Group 1 round, led
- Breega 1 round, led
- CRV 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Airwallex | US$160m | Series D | Payables and receivables | |
| AvidXchange | US$128m | Series F extension | Payables and receivables | |
| Digits | US$22m | Series B | GV | ERP and general ledger |
| Factorial | €15m | Series A | CRV | Payroll |
| ITILITE | US$13m | Series B | Vy Capital, Greenoaks Capital | Spend management |
| Previse | US$11m | Funding round | Reefknot Investments, Mastercard | Payables and receivables |
| Remote | US$11m | Seed round | Two Sigma Ventures | Payroll |
| Everee | US$10m | Series A | Origin Ventures, Signal Peak Ventures | Payroll |
| Recko | US$6m | Series A | Vertex Ventures | Close and reconciliation |
| Auditoria.AI | US$6m | Funding round | Neotribe Ventures, Engineering Capital, Firebolt Ventures | Close and reconciliation |
| RoadSync | US$5.7m | Series A | Base10 Partners | Payables and receivables |
| Libeo | €4m | Funding round | LocalGlobe, Breega | Payables and receivables |
| Trovata | US$4.3m | Seed extension | J.P. Morgan | Treasury |
| Oyster | US$4.2m | Seed round | Connect Ventures | Payroll |
| Klippa | €1m | Funding round | Bizcuit Group | Document capture |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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