Financial data management solution Leapfin closes Series A on $12.2m

Leapfin, a financial data management solution, has closed its Series A funding round on $12.2m, which was 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 supplies chief financial officers with tools to improve strategic decision making.

Its solutions augment ERPs and enable finance teams to consolidate financial data from siloed sources, maintain compliance with accounting rules and laws, and produce detailed financial data and reports in real-time.

Leapfin offers automated revenue subledger, transaction-level reconciliations, audit and SOX compliance, centralised financial data repository and financial data pipeline optimisation.

Its clients include Canva, Reddit, SeatGeek, Flexport and Vimeo.

Leapfin CEO and co-founder Raymond Lau said, “Financial data is the most important data within the company, yet CFOs often have to rely on month-old stale financials to make critical business decisions.

“In today’s inflationary environment and looming recession, having access to real-time financial data that you can trust is more important than ever. Winners and losers will be separated by those who can act quickly vs. those who wait around analysing Excel spreadsheets.”

The FinTech company has raised a total of $20m in funding, to-date.

As part of the deal, Crosslink partner Phil Boyer will join the Leapfin board of directors.

Crosslink recently led the $12.7m investment of Gridwise, an app that helps drivers and couriers manage their earnings.

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