Back Office, a West Palm Beach, FLA-based automated bookkeeping platform for small businesses, raised $1.8M in seed funding.
The round was led by Active Capital, followed by other early stage investors including 500 Fintech, PlugNPlay Ventures, and Angels from San Francisco, New York, Florida, and Boston.
The company intends to use the funds to expand operations, enhance their technology, and add complementary products such as credit, bill pay, and other financial tools.
Launched in Jan 2018 by Felix Rodriguez, CEO, and Glennys Rodriguez, COO, Back Office helps businesses automate their accounting & finance and get paid 2 faster, reduce accounting expenses, and save hours of work.
The company’s AI driven engine can process over 4 million transactions per day and is currently handling over $300 million in financial transactions.
Back Office, which expects this number to be at over $1 billion by years end, recently graduated from the 500 Startups accelerator in San Francisco as part of Batch 24.