Accounting TechnologyFunding Report August 2023
August 2023Published 1 September 2023
Accounting and finance software companies raised US$409m across 8 rounds in August, up 74% on July's US$235m. Spend management and payables and receivables took the largest shares.
US$410mRaisedin August
8Rounds12 in July
US$300mLargestRamp
US$2.31bn2023 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$310m
Payables and receivables$71.2m
Treasury$12.5m
Close and reconciliation$8m
ERP and general ledger$6.3m
Payroll$1.3m
Top investors
August, rounds led or joined
- Chalfen Ventures 1 round, led
- DI Technology 1 round, led
- Elephant Partners 1 round, led
- HSBC 1 round, led
- Indus Valley Capital 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Ramp | US$300m | Series D | Thrive Capital, Sands Capital | Spend management |
| Tradeshift | US$70m | Funding round | HSBC | Payables and receivables |
| DebtBook | US$12.5m | Series A-1 | Elephant Partners | Treasury |
| Mercanis | US$10m | Seed round | Signals Venture Capital, DI Technology, Speedinvest | Spend management |
| Functional Finance | US$8m | Seed round | Close and reconciliation | |
| Translucent | £5m | Seed round | Chalfen Ventures, LocalGlobe | ERP and general ledger |
| Paismo | US$1.3m | Seed round | Indus Valley Capital | Payroll |
| Finofo | US$1.25m | Pre-seed round | Motivate Venture Capital | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
