Paro, which connects finance professionals with companies looking to outsource or augment their accounting and finance teams, has received a $2.25m credit facility.
The funds were supplied by Square 1 Bank and will be used to support Paro’s growth initiatives.
Chicago-based Paro matches virtual, on-demand accounting and finance professionals with clients ranging from growth stage to enterprise businesses. Paro uses matching algorithms to bring work directly to the highest quality freelance CPAs, bookkeepers, CFOs and analysts to relevant companies.
Paro CEO Michael Burdick said, “The future of work is upon us; at Paro, our mission is to empower finance and accounting professionals to embrace the future of work by doing what they love. We’re accelerating the migration to the freelance economy by giving freelancers the tools to manage and grow their professional lives.â€
Earlier in the year, the company raised a $5m investment from Revolution Ventures, Global Founders Capital and Tom Williams. The capital was raised to support the expansion of its freelancer product suite.
Last month, SME banking and accounting app Countingup raised £2.3m in its seed round of funding which was led by Forward Partners. The capital was raised to support the development of more accounting capabilities, and hiring some additional people to its team.
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