Accounting TechnologyFunding Report January 2022
January 2022Published 1 February 2022
Accounting and finance software companies raised US$1.11bn across 19 rounds in January, up 22% on December's US$905m. Spend management and payroll took the largest shares, and Tiger Global Management led two rounds, Moss and Lummo.
US$1.11bnRaisedin January
19Rounds16 in December
US$300mLargestBrex
US$1.11bn2022 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$583m
Payroll$297m
Bookkeeping$113m
ERP and general ledger$55.8m
Payables and receivables$26.5m
FP&A and forecasting$20m
Tax and compliance$10m
Top investors
January, rounds led or joined
- Tiger Global Management 2 rounds, led
- Addition 2 rounds, 1 led
- General Atlantic 2 rounds, 1 led
- 468 Capital 1 round, led
- Frontier Growth 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Brex | US$300m | Series D-2 | Greenoaks Capital, TCV | Spend management |
| PayFit | €254m | Series E | General Atlantic | Payroll |
| Spendesk | €100m | Series C extension | Spend management | |
| Moss | €75m | Series B | Tiger Global Management | Spend management |
| Lummo | US$80m | Series C | Tiger Global Management, Sequoia Capital India | Bookkeeping |
| Pennylane | €50m | Series B | ERP and general ledger | |
| Spenmo | US$34m | Series A | Insight Partners | Spend management |
| Vyapar | US$30m | Series B | WestBridge Capital | Bookkeeping |
| Order | US$30m | Series B | Stage 2 Capital | Spend management |
| ClearGov | US$20m | Growth | Frontier Growth | FP&A and forecasting |
| Flashtract | US$15m | Series A | Addition, Shine Capital | Payables and receivables |
| Circula | €12m | Series A | Spend management | |
| Finexio | US$10m | Funding round | Patriot Financial Partners | Payables and receivables |
| SeamlessHR | US$10m | Series A | TLcom Capital | Payroll |
| April | US$10m | Seed round | Team8 | Tax and compliance |
| Penny Software | US$5m | Seed round | Outliers Venture Capital | Spend management |
| OZÉ | US$3m | Pre-Series A | Speedinvest | Bookkeeping |
| Sanad Cash | US$1.6m | Seed round | Spend management | |
| Denario | €1.3m | Seed round | 468 Capital | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
