Accounting TechnologyFunding Report February 2022
February 2022Published 1 March 2022
Accounting and finance software companies raised US$1.26bn across 25 rounds in February, up 14% on January's US$1.11bn. Payables and receivables and spend management took the largest shares.
US$1.26bnRaisedin February
25Rounds19 in January
US$312mLargestGoCardless
US$2.36bn2022 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$647m
Spend management$234m
Tax and compliance$116m
Payroll$100m
Practice management$66m
Bookkeeping$36.1m
Treasury$26m
Document capture$16.2m
Close and reconciliation$15m
ERP and general ledger$4m
Top investors
February, rounds led or joined
- Soma Capital 4 rounds, 1 led
- Insight Partners 3 rounds, 1 led
- Global Founders Capital 2 rounds, 1 led
- Y Combinator 2 rounds
- 8VC 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| GoCardless | US$312m | Series G | Permira | Payables and receivables |
| Chargebee | US$250m | Series H | Tiger Global, Sequoia Capital | Payables and receivables |
| Fenbeitong | US$140m | Series C+ | DST Global | Spend management |
| Yunzhangfang | US$100m | Series E | Apax Digital | Tax and compliance |
| Check | US$75m | Series C | Stripe | Payroll |
| Karbon | US$66m | Series B | Tidemark Capital | Practice management |
| Tribal | US$60m | Series B | SoftBank Latin America Fund | Spend management |
| Shine | €30m | Funding round | Bookkeeping | |
| Metronome | US$30m | Series A | Andreessen Horowitz | Payables and receivables |
| Coast | US$27.5m | Series A | Accel, Insight Partners | Spend management |
| Vitesse | US$26m | Series B | Prime Ventures | Treasury |
| Avanti Software | US$25m | Funding round | Round13 Capital | Payroll |
| Subskribe | US$18.4m | Seed and Series A | 8VC, Slow Ventures | Payables and receivables |
| m3ter | US$17.5m | Seed round | Payables and receivables | |
| Trullion | US$15m | Series A | Aleph, Third Point Ventures | Close and reconciliation |
| Siteline | US$15m | Series A | Payables and receivables | |
| Neo.Tax | US$10m | Series A | Infinity Ventures | Tax and compliance |
| Nanonets | US$10m | Series A | Elevation Capital | Document capture |
| 6Estates | US$6.2m | Series B+ | Sinar Mas Group | Document capture |
| Pluto | US$6m | Seed round | Global Founders Capital | Spend management |
| ComplYant | US$5.5m | Seed round | Craft Ventures | Tax and compliance |
| LemonEdge | US$4m | Funding round | Blackstone Innovation Investments | ERP and general ledger |
| Flexio | US$3m | Seed round | Soma Capital | Payables and receivables |
| Swipe | US$2m | Seed round | Bookkeeping | |
| Duplo | US$1.3m | Pre-seed round | Oui Capital | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
