Fondo, a San Francisco, CA-based all-in-one accounting platform provider, raised $3M in Pre-Seed funding.
The round includes $1.2m in equity with participation from Y Combinator, Liquid2 Ventures, Transmedia Capital, GMO Venture Partners and $1.8m in non-dilutive financing from Capchase.
The company intends to use the funds to invest in product development and grow the team.
Founded in 2020 and led by David J. Phillips, CEO, Fondo which specializes in helping companies get their taxes filed, books closed, and cash back from the IRS via a platform that helps founders navigate tax compliance and credits with clarity and speed.
In 2022 Fondo experienced growth, including doubling its team to 54 people and nearly tripling revenue to $3m in annual recurring revenue. Today, more than 500 startups use the platform, including Career Karma, Tydo, PostHog, Explo, and Bottomless.
FinSMEs
14/02/2023