Bench Raises $60M in Series C Funding


Bench, a Vancouver, British Columbia-based bookkeeping service for small businesses, raised $60m in Series C financing.

The round, which more than doubles total funding to over $100M, was led by Contour Venture Partners, with participation from existing investors Altos Ventures, iNovia Capital, and BMO T&I, and new investors Sage and Shopify.

The company intends to use the funds to continue to expand operations and its business reach.

Led by Ian Crosby, CEO, Bench offers an integrated offering that includes banking, cards, payroll, full-service bookkeeping, taxes, and advice in a single streamlined software and service offering for small businesses. Customers can spend on their Bench cards and see real-time updates to their profitability and cashflow, which flow into the customer’s accounting and end-of-year tax filings.

The company services over 11,000 business owners and employs 650 people and growing.