📣📣 IT TAKES AN ECOSYSTEM 📣📣 Today we announce our $35 million Series A funding, led by @Lightspeed Venture Partners, with participation from @Vesey Ventures, @Commerce Ventures, @Accel, and @Aleph - and it’s the result of not only a "team" effort, but a whole "ecosystem" one. Because when your mission is to help DTC founders become more financially savvy and drive sustainable growth, you don't get to this point by the power of your product or value proposition alone. In the DTC community, it's all a group effort - a tightly knit value loop, and we've only gotten here with our fantastic customers. Thank you for your trust and to our investors for believing in our vision. In today's economy, securing such funding is a testament to the impact we're making in the e-commerce space. The past two years have been incredibly challenging for e-commerce founders - we are proud to deepen our impact by addressing many of the space's pain points and providing trusted, automated, real-time financial data that drives profitability. You can read more about it here: >> https://lnkd.in/dX9uer-Y TechCrunch’s coverage of the story in the first comment. And now, a quick toast - and back to the books! Accel Aleph Commerce Ventures Vesey Ventures Lightspeed Yoav Amit Amit Avner Gil Barak Tomer Bar-Zeev Eran Ben Horin Jack Benzaquen Jon Blair Dana Eli-Lorch Ofir Ehrlich Danny Grander Aviad Harell Amit Kurz Vivek Krishnamurthy Danny Leshem Jeff Lowenstein Tal Morgenstern Chase Mohseni Yoav Naveh Matthew Nichols Ophir Reshef Dan Rosen Roi Tiger Lindsay Fitzgerald Martin Gibson Zach Goldstein Rishabh Pudhota Shaan Puri Ronak Shah Romeen Sheth Eden Shochat Ari Savitsky Yair Weinberger Adi Ben Mayor Gil Shiff Yaron Revah
Finaloop
Software Development
Brooklyn, NY 4,537 followers
Instantly integrate your digital apps and we'll get your books and taxes right.
About us
Finaloop reconciles all financials in real-time, providing ecommerce and DTC brands flawless books, optimized tax returns, and actionable insights 24/7 with 100% accuracy. We replace your accounting software, your integrations, your bookkeeper and tax CPA, so you stop wasting your precious time and money, make smarter decisions and handle taxes on time. Grow your business, make more money and beat your competition with flawless financials and actionable real-time business data.
- Website
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www.finaloop.com
External link for Finaloop
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- Brooklyn, NY
- Type
- Privately Held
- Founded
- 2020
Locations
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Primary
38 6th Ave
Brooklyn, NY 11217, US
Employees at Finaloop
Updates
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Finaloop reposted this
Around 90%+ of all ecommerce stores fail according to Shopify. Here are the Top 5 financial mistakes newer brands make and how to avoid them: 1. Not setting up accurate accrual accounting This might be the single most common mistake newer brands make. They have no idea what their true unit economics is on a SKU, channel, or company basis. If you don't know what's profitable and what isn't, you can't make informed decisions. Hire a bookkeeper or use a tool like Finaloop to get your financials in order. 2. Not optimizing your financial stack Your financial stack can be thought of as your credit cards, bank accounts, and lines of credit. If you're not optimizing your usage of all three of these you're leaving real money on the table. You want to use your credit cards to max out cash back, points earned, and payback period. For bank accounts, you want the highest APR, lowest fees and max FDIC insurance. For lines of credit, you want to have access to the most flexible credit terms at the lowest rates to help boost your cash conversion cycle. For credit cards consider American Express Plum, Amex Gold, Parker, Capital One Spark Plus, or Ampla. For banking consider Mercury, Novo, or Ampla. For Lines of Credit Ampla's Growth Line of Credit is a no brainer. 3. Not negotiating your vendor terms This is one of the most powerful levers you can pull to increase your cash flow and reduce your cash conversion cycle. Brands should periodically negotiate better and better terms. You can even try to negotiate paying 3-5% higher prices in exchange for an additional 30-60+ days. Doing this in tandem with paying suppliers with a 60-90 day credit card via Melio is one of the biggest hacks to improving your cash conversion cycle. 4. Not building a weekly cash flow forecast Not forecasting your future cash inflows and outflows is like a scuba diver going deep underwater without knowing how much oxygen they have in the tank. Cash flow, like oxygen, breathes life into your business. Setup a simple weekly forecast in excel estimating cash inflows and outflows and use it to drive decisions around inventory purchasing, advertising, and drawing on your lines of credit. 5. Not having an emergency fund You never know when a product will get delisted, when someone will decide to sue you, or when China will release a bioweapon causing the entire global supply chain to break down. You should aim to have 3-6 months of fixed expenses in cash for when emergency strikes. Remember the #1 rule of business: don't run out of cash. Avoiding these 5 common financial mistakes is key for newer brands looking to scale. If you're seeking expert financial guidance as you scale your brand, shoot me a DM! -- #cpgbrands #dtcbrands #ecommercetips #fractionalcfo
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📊 Why you need tech to optimize your finances DTC brands are leaving old-school accounting in the dust. Embrace real-time data for financial excellence #finaloop #bookkeeping
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🤑 Cash Is King Balancing cashflow & inventory is key. Ensure you have the cash to fuel your business growth #finaloop #bookkeeping #ecommerce #Cashflowmanagement
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🔧 How Finaloop Provides the Best Tools for Your Financial Ops With just one app you can automate your accounting system, bring information from your other financial apps, and take over all the manual bookkeeping. But don't take our word for it; try Finaloop FREE for 14 days (No credit card details required). https://lnkd.in/djN_KRqn #finaloop #bookkeeping #finance
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🤦 The Most Crucial Accounting Mistake Lio thinks it's terrible for D2C brands to outsource their financial function to a third party. So, what do you think? Should founders have to learn finance or is outsourcing not really a big deal? #DTC #finance #accounting #finaloop #ecommerce #Shopify
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🤑 2 Common Factors Brands Have, to Get Acquired Lio's observation is that the two greatest factors to getting acquired are the founding team strength and great unit economics. Do you agree? What other factors do you think are just as important? #business #finance #finaloop #accounting #bookkeeping #ecommerce #Shopify