Accounting TechnologyFunding Report February 2023
February 2023Published 1 March 2023
Accounting and finance software companies raised US$232m across 13 rounds in February, up 221% on January's US$72.3m. Spend management and payroll took the largest shares, and General Catalyst led two rounds, Finch and Puzzle.
US$230mRaisedin February
13Rounds8 in January
US$100mLargestAspire
US$305m2023 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$142m
Payroll$42.7m
Tax and compliance$27.5m
Bookkeeping$16.2m
Payables and receivables$2.4m
FP&A and forecasting$1.5m
Top investors
February, rounds led or joined
- General Catalyst 2 rounds, led
- Picus Capital 2 rounds
- AirTree Ventures 1 round, led
- Apertu Capital 1 round, led
- Capital 49 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Aspire | US$100m | Series C | Lightspeed, Sequoia Capital SEA | Spend management |
| Finch | US$40m | Series B | General Catalyst, Menlo Ventures | Payroll |
| Pliant | US$28m | Series A | SBI Investment | Spend management |
| Hnry | A$35m | Series B | AirTree Ventures | Tax and compliance |
| Puzzle | US$15m | Series A | General Catalyst | Bookkeeping |
| finway | €9.2m | Series A | Capital 49 | Spend management |
| Mazepay | €4m | Funding round | Scale Capital | Spend management |
| Workpay | US$2.7m | Pre-Series A | Payroll | |
| HedgeFlows | £2m | Funding round | Payables and receivables | |
| Inkle | US$1.5m | Pre-seed round | Tax and compliance | |
| Farseer | US$1.5m | Seed round | Apertu Capital | FP&A and forecasting |
| Fondo | US$1.2m | Pre-seed round | Bookkeeping | |
| Staxxer | €1m | Funding round | Tax and compliance |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
