TCV Investor Index

TCVInvestor Index fintech portfolio in accounting and finance software

Ranked #99 of 129January 2020 – September 2026

TCV backed 4 accounting and finance software companies in 5 rounds between January 2020 and September 2026, ranking #99 in the Investor Index. It led 4 of the rounds. The rounds it backed raised US$1.2bn in total. Its most frequent area was spend management, with 3 rounds.

5Rounds
4Led
US$1.2bnRaisedin its rounds
#99Rank
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Rounds each year

Rounds led or joined

20200
20211
20221
20231
20240
20251
20261

Where it invests

Rounds by product area

Spend management3
ERP and general ledger1
Payroll1

Portfolio companies

4 accounting and finance software companies it backed, A to Z

CompanyBackedRoleLatest
Brex2 roundsLed 1Jan 2022
Employment Hero1 roundLed 1Oct 2023
LayerX1 roundLed 1Sep 2025
Pennylane1 roundLed 1Jan 2026

Every round

Largest first, as announced

Download all All 925 rounds since 2020
CompanyAmountRoundRoleWhen
BrexUS$425mSeries DJoinedApr 2021
BrexUS$300mSeries D-2LedJan 2022
Pennylane€175mSeries ELedJan 2026
Employment HeroA$263mSeries FLedOct 2023
LayerXUS$100mSeries BLedSep 2025

How it’s compiled

  • Every funding round announced
  • Rounds led or joined by the firm
  • Rounds as announced, totals in US$

Get the funding report and the Investor Index on the 1st of each month, with the accounting technology briefing for finance professionals.