leapfina financial data management solution, closed its $12.2 million Series A funding round, led by Crosslink Capital.
Other contributions came from Work-Bench and Uncorrelated.
With the capital, Leapfin plans to accelerate product development, as well as hire more sales and marketing staff.
Leapfin is a financial data management solution that provides CFOs with tools to improve strategic decision making.
Its solutions complement ERPs and enable finance teams to consolidate financial data from siled sources, maintain compliance with accounting rules and laws, and produce detailed real-time financial data and reports.
Leapfin offers automated revenue sub-ledger, transaction-level reconciliations, SOX audit and compliance, centralized financial data repository, and financial data pipeline optimization.
Its clients include Canva, Reddit, SeatGeek, Flexport and Vimeo.
Leapfin CEO and co-founder, Raymond Lau, said, “Financial data is the most important data in the business, but CFOs often have to rely on outdated financial data from a months to make critical business decisions.
“In today’s inflationary environment and impending recession, having access to real-time financial data you can trust is more important than ever. Winners and losers will be separated by those who can act quickly versus those who wait around analyzing Excel spreadsheets.
The FinTech company has raised a total of $20 million in funding to date.
As part of the deal, Crosslink partner Phil Boyer will join Leapfin’s board of directors.
Crosslink recently led the $12.7 million investment in Gridwise, an app that helps drivers and couriers manage their earnings.
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