Folio, a financial operations platform designed specifically for the hospitality sector, has raised $14m in a Series A funding round.
The round was led by Thrive Capital and Construct Capital, with additional participation from Redseed VC and SciFi VC.
Folio’s platform helps hotels increase profitability through a modern procure-to-pay suite that includes a managed marketplace (Folio Buy), AI-powered invoice processing (Folio Bills), and streamlined payments (Folio Pay). The company aims to centralise financial operations by integrating suppliers, properties, and finance systems into a single workflow.
The new capital will be used to accelerate Folio’s ability to implement its technology more quickly and expand its efforts to drive profitability across the hotel sector. The company said the funding will support faster rollouts and enhanced functionality across its product offerings.
Folio debuted publicly at the HITEC 2024 technology conference, where it won the E20X Judge’s Choice Award. Since then, it has secured major contracts with large hotel management companies and now supports purchasing operations across hundreds of properties.
One of Folio’s clients, HHM Hotels, oversees more than 39,000 rooms and $2bn in revenue across North America. HHM has a track record of leveraging innovative technologies to deliver value for hotel owners.
HHM Hotels chief investment officer Shawn Tuli said, “Any new technology must deliver clear ROI — and Folio does just that. Beyond streamlining workflows and boosting productivity by bringing AI to Procure-to-Pay processes, Folio accelerates time-to-value through their seamless implementations. We’ve quickly seen more efficiencies and alignment for our operating teams.”
Folio’s leadership team brings a wealth of experience across FinTech, e-commerce, hospitality, and applied AI.
Construct Capital general partner Dayna Grayson said, “Kate and Al have built a team that knows how to turn messy, siloed data into intuitive workflows that solve real problems for hotels.”
Redseed VC principal Daniel Benjamin added, “With rising costs and mounting pressure on margins, the hospitality industry needs smarter tools. Folio delivers just that — long-overdue innovation that’s efficient, transparent, and built for operators.”
Read the daily FinTech news here
Copyright © 2025 FinTech Global
