Debt capital raise and management solution Finley has raised $17m in Series A funding led by CRV to transform the debt ecosystem.
The round also saw participation from existing investors Y Combinator, Bain Capital Ventures, Haystack, and Nine Four Ventures, as well as new investor Upper90.
Finley was launched two years ago out of Y Combinator, with the goal of proving that software could transform the way businesses manage and access debt capital.
The FinTech raised $3m in seed funding alongside launching its credit facility management tools.
According to Finley, with so many players in the private credit space, and no centralised standards, raising and managing debt capital is now more complex, fragmented, and opaque than ever before.
This leads to inaccurate transactions, limited views of risk, and frequent lender-borrower disagreements. Finley’s tools aim to bring speed, transparency, and simplicity to debt capital.
The company also works with customers like TripActions, Ramp, and Parafin, to prove that tech-enabled debt capital management is not only possible, but an essential part of the modern financial tech stack.
The Finley team is made up of talent from across companies in Silicon Valley and traditional finance. They have experience from businesses such as Goldman Sachs, Ironclad, Nova Credit, Blend, Twilio and many others.
The company said this round of funding will enable it to invest in both its team and our customers. “We’ll continue to build a world-class financial software team and deliver more robust capital markets capabilities for current and future customers,” Finley said in an announcement on the company’s website.
CRV said, “The world has become more accustomed to managing equity documents, issuing, ownership, etc., but the world of debt continues to be left in the past. Gathering required documents for lenders, reporting ongoing performance, repayments, compliance, etc. is all extremely manual and usually in the hands of Excel, legacy systems and left to the whims of human error. We see the product at Finley as a step to bringing this debt ecosystem into the 21st century.”
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