Finley, the debt capital raise and management solution, has announced a $3 million seed round led by Matt Harris and Kevin Zhang of Bain Capital Ventures, with participation from Haystack, Nine Four Ventures, TwentyTwo VC, and Y Combinator.
It will use this funding to accelerate its product development with early customers like Ramp, the statement said.
“In capital markets, credit is clearly having a moment,” said Matt Harris, Partner at Bain Capital Ventures. “Low costs and creative products are driving enthusiastic borrower adoption, whether by startup teams financing lending, real estate, equipment and other assets, or corporate treasury executives adopting an alternative to bank finance. This is an exciting moment for us to partner with the Finley team, who have the right experience, vision, and timing for a modern transaction, reporting, and management software for the future of debt capital markets.”
“Business leaders are waking up to the importance of debt capital. When I was a debt investor at Goldman Sachs, I saw that debt capital management was an existential issue for high-growth companies,” said Jeremy Tsui, co-founder and CEO of Finley. “Our job at Finley is two-fold: educate companies on what’s at stake, and build software that enables them to take control of their own growth.”
Finley also announced the public launch of its credit facility management software, which enables customers to manage credit facility compliance and reporting tasks without bringing on additional capital markets or data engineering personnel.
“Finley has automated daily capital provider reporting on our $150 million credit facility with Goldman Sachs,” said Eric Glyman, co-founder and CEO of Ramp, a spend management startup that was recently valued at $1.6 billion. “When we looked for off-the-shelf software solutions that could meet our needs, we couldn’t find one that could handle the nuances of our credit agreement. Finley is an exceptional solution, helps us minimize risk, and saves our finance and engineering teams dozens of hours a month.”
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