Layer has raised $2.3 million in pre-seed funding for its embedded accounting answer.
The spherical was led by Higher Tomorrow Ventures, with participation from executives at Sq., Plaid, Unit, Verify, and different SMB software program firms.
Layer will use the funding to increase its headcount throughout engineering and enterprise operations.
Embedded accounting participant Layer raised $2.3 million in a pre-seed spherical of funding right this moment. The funds mark the primary funding around the San Francisco-based firm has seen because it was based final March.
Higher Tomorrow Ventures led the spherical, which additionally noticed participation from executives at Sq., Plaid, Unit, Verify, and different SMB software program firms.
Layer goals to simplify monetary administration for small companies by enabling software program firms– similar to point-of-sale techniques, neo-banks, and different software program firms catering to small companies– to embed accounting and bookkeeping options instantly inside their very own platforms. This eliminates the necessity for small companies to import information between their accounting software program, similar to Quickbooks, and the small enterprise software program supplier. As a result of Layer permits software program suppliers to mix their very own information with information from clients’ exterior monetary accounts, it helps supply the shoppers a extra full image of their accounting.
“A typical burden small companies face right this moment is retaining their accounting software program in sync with their operations,” stated Layer Co-founder and CEO Justin Meretab. “We imagine our platform will now give SMBs a greater answer for his or her accounting wants by embedding it into techniques they use every day. Small companies have already got a lot on their plate operating and rising their operations, and accounting shouldn’t be one other burden.”
Layer makes it attainable for software program firms to embed Layer by way of its API and pre-built Javascript UI elements. The corporate will use the funding to increase its headcount throughout engineering and enterprise operations.
“Accounting and bookkeeping are two of the largest ache factors small enterprise house owners face, and but the present merchandise available in the market are intimidating and will be time-consuming,” stated Higher Tomorrow Ventures Principal Nihar Bobba. “There are few merchandise available in the market that really handle these points, which is why we’re excited to hitch Justin and Daniel of their journey to construct and supply a robust embedded accounting platform that permits all types of firms to unravel the accounting wants of their clients.”
Photograph by Mikhail Nilov
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