Accounting TechnologyFunding Report September 2021
September 2021Published 1 October 2021
Accounting and finance software companies raised US$1.16bn across 19 rounds in September, down 4% on August's US$1.21bn. Payables and receivables and payroll took the largest shares, and Insight Partners led two rounds, Papaya Global and Spenmo.
US$1.16bnRaisedin September
19Rounds23 in August
US$250mLargestMelio
US$6.06bn2021 so far
Sponsored
Book this space →Funding Report Sponsor
$39 a month, no contract. Your logo, one line and a link on every monthly funding report and Investor Index page.
Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$580m
Payroll$330m
Spend management$185m
Bookkeeping$58.4m
Tax and compliance$7.1m
Close and reconciliation$3m
Top investors
September, rounds led or joined
- Insight Partners 2 rounds, led
- Accel 2 rounds, 1 led
- CRV 2 rounds, 1 led
- Partech 2 rounds, 1 led
- Tiger Global 2 rounds, 1 led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Melio | US$250m | Series D | Thrive Capital, General Catalyst | Payables and receivables |
| Papaya Global | US$250m | Series D | Insight Partners | Payroll |
| Airwallex | US$200m | Series E | Payables and receivables | |
| Factorial | US$80m | Series B | Tiger Global | Payroll |
| Aspire | US$58m | Series B | Spend management | |
| Jeeves | US$57m | Series B | CRV | Spend management |
| Vic.ai | US$50m | Series B | ICONIQ Growth | Payables and receivables |
| Billogram | US$45m | Funding round | Payables and receivables | |
| Spenmo | US$34m | Series A | Insight Partners | Spend management |
| FloBiz | US$31m | Series B | Sequoia Capital India, Think Investments | Bookkeeping |
| Mooncard | €20m | Series B | BlackFin Capital Partners, Partech, Aglaé Ventures, RAISE Ventures | Spend management |
| Higo | US$23m | Series A | Accel | Payables and receivables |
| MarginEdge | US$18m | Series B | Schooner | Bookkeeping |
| Karbon Card | US$12m | Pre-Series A | Spend management | |
| VertoFX | US$10m | Series A | Payables and receivables | |
| iPaidThat | €8m | Funding round | Bookkeeping | |
| Accountable | €6m | Funding round | Tax and compliance | |
| Aurelia | US$3m | Seed round | Blossom Capital | Close and reconciliation |
| Springque | US$1.7m | Funding round | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
