Startup
Fondo
Bookkeeping, corporate tax filing and R&D tax credits for US startups, mainly Delaware C corps, run by in-house accountants with software and AI.
| Founded | 2020, San Francisco; second office in Austin; Y Combinator Winter 2018 batch |
|---|---|
| Founders | David J. Phillips (founder and CEO), a former Deloitte accountant and co-founder of Hackbright Academy |
| Stage | Seed |
| Total funding | About US$10m: US$3m pre-seed and US$7m seed |
| Last round | Seed, US$7m (US$4.6m equity and a US$2.4m Capchase debt facility), November 2024, led by Money Forward with Y Combinator, Motley Fool Ventures and Next Coast Ventures; valuation US$66m |
| Earlier rounds | Pre-seed, US$3m, from Y Combinator, Liquid 2 Ventures and Transmedia Capital |
| What it does | Monthly, quarterly or annual bookkeeping with a dedicated accountant; federal and state corporate tax returns and Delaware franchise tax (TaxPass); R&D tax credit studies; catch-up bookkeeping |
| Traction | 2,000+ startups as customers; customers include ElevenLabs, Karat and PostHog; US$6m ARR and profitable at the time of its 2024 seed round |
| Pricing | Bookkeeping from US$399 a month (monthly close), US$1,198 a quarter or US$950 a year; TaxPass from US$1,450 a year; tax add-ons from US$500 each; catch-up bookkeeping from US$950 |
| Markets | US, for Delaware C corps, including companies with international founders and foreign subsidiaries |
| Peers | Pilot, Digits, Kruze Consulting, Inkle, Zeni, Truewind |
Funding
- Announced rounds
- US$10m in two rounds
- Latest round
- Seed, US$7m, November 2024, led by Money Forward
- Valuation
- Valued at US$66m in November 2024, at its seed round
What was Fondo's last announced valuation?+
Fondo was valued at US$66m in November 2024, at its seed round.
Why it matters
Fondo packages bookkeeping, corporate tax returns, Delaware franchise tax and R&D credits into one service for venture-backed startups, with published prices from US$399 a month. It shows how YC-era startups now buy their whole finance back office as a subscription before hiring a finance team.
Part of Accountio’s accounting technology coverage.
