TECHNOLOGY,FINANCE

Finli Raises $6M to Bring Mobile-First Payment Management to Service-Based Businesses

Finli | July 11, 2022 | Read time : 02:36 min

Finli Raises $6M to Bring Mobile
Finli, a payment management platform built for service-based small businesses in the US, has announced  the close of its $6 million Seed fundraising round, led by the Urban Innovation Fund. Motley Fool Ventures, M13, Alumni Ventures, and all existing investors also participated in the round. The new injection of funds will be used to expand Finli's team and business banking capabilities, moving towards becoming a holistic financial services solution.

According to the U.S. Small Business Administration Office of Advocacy, 99.9% of US businesses are small businesses. Existing banking and administrative platforms have not built their solutions with the small business of today in mind, many of whom are utilizing five or more services to manage client billing and payments.

"'Our mission is to provide underserved businesses with the financial tools that they need to manage and grow their businesses without taking on hefty fees or complicated workflows. By meeting them where they are, we are giving them back time and money, We intentionally built Finli to solve cumbersome business challenges so that owners and operators can focus on growing their business and not chasing payments."

-Lori Shao, CEO of Finli

Finli's platform is thoughtfully designed for businesses to manage all aspects of invoicing and payments communication, allowing them to use familiar tools and customers to easily pay outstanding invoices through their mobile devices.

"Customers love Finli because it is so easy to use. The Finli team is totally dedicated to lifting up small businesses and owner-operators – and it shows, Many service providers are fearful of big tech taking advantage of them with hidden costs and complex integrations. Finli allows small businesses to regain control – delighting their customers and making more money in the process."

-Clara Brenner, Co-Founder and Managing Partner at Urban Innovation Fund

Finli's platform allows small businesses to invoice on the go: sending invoices, looking up customer information, creating recurring invoices and checking on payment status from a phone. New users are able to set up an account and issue an invoice in under one minute through their mobile device, desktop or any other device. There are zero merchant transaction fees for business bank-to-bank transfers. Cash and check payments can be reconciled through Finli's platform and businesses can manage collections through automated emails & text messages.

Finli's seed round brings total funding to $9.5 million. Existing investors include Mac Venture Capital, Slauson and Co, Core Innovation Capital, Techstars and Muse Capital. For more SMB Resources, visit Finli's Finsider blog.

About Finli
Finli is on a mission to financially lift local communities. An all-in-one payment management platform built for service-based small businesses in the US, Finli allows businesses to manage invoices, payments and customer communication in a single platform. Join the thousands of businesses who have saved hours this week with Finli, visit www.finli.com. And for more business resources, visit Finli's Finsider blog

Spotlight

This report by the IMA® (Institute of Management Accountants) Small Business Committee shares professional insight to help small businesses respond to the coronavirus emergency. With an emphasis on cash flows considerations, the report provides guidance on how small businesses can apply a three-step assess-build-communicate (ABC) recovery planning framework which includes:


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MARKETING AND NETWORKING

Bridgestone Puts Focus on Purpose and Action with New "What Really Matters" Brand Platform

Bridgestone | August 25, 2022

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TECHNOLOGY

Comcast Business Partners with Fortinet to Secure Enterprise Application Access with New SASE and SSE Solutions

Comcast and Fortinet | August 02, 2022

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FINANCE

Caary Capital Partners With Ceridian to Enhance Its Small Business Payments Offering

Caary Capital | August 04, 2022

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FINANCE, SMALL BUSINESS ADVICE

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TriNet | September 15, 2022

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Spotlight

This report by the IMA® (Institute of Management Accountants) Small Business Committee shares professional insight to help small businesses respond to the coronavirus emergency. With an emphasis on cash flows considerations, the report provides guidance on how small businesses can apply a three-step assess-build-communicate (ABC) recovery planning framework which includes:

Resources