This company provides full-service ecommerce bookkeeping leveraging real-time accounting software and expert teams. They deliver accurate, always-available financial records, automated inventory tracking, and tax return preparation for online sellers. The service enables direct-to-consumer brands to gain actionable financial data for faster, informed business decisions.
Funding
$55M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
E-commerce businesses often struggle with inaccurate financial records due to the complexity of integrating data from multiple sales channels, payment gateways, and business applications. Traditional accounting systems and bookkeepers often lack the specialized knowledge to handle the unique challenges of direct-to-consumer (DTC) and multichannel wholesale brands. This can lead to delayed tax filings, missed deductions, and poor financial decision-making.
Solution
Finaloop provides an e-commerce accounting software and bookkeeping service that automates financial data integration, ensuring accurate and real-time financial visibility. The platform connects to various business applications, including sales platforms, payment processors, and bank accounts, to create a centralized view of financial health. A dedicated bookkeeping team uses Finaloop's automation technology to build and maintain accurate books, providing DTC and multichannel brands with the insights needed to make informed decisions, optimize tax returns, and improve profitability. Finaloop replaces traditional accounting software, bookkeepers, and manual inventory spreadsheets with an integrated solution tailored for e-commerce businesses.
Target Audience
Finaloop is designed for direct-to-consumer (DTC), multichannel, and wholesale e-commerce brands that need accurate, real-time financial data and expert bookkeeping services to make informed business decisions and optimize their financial performance.
Features
- Automated data integration from e-commerce platforms like Shopify, Amazon, and Etsy
- Real-time profit and loss (P&L), balance sheet, and cash flow statements
- Automated inventory and COGS tracking based on landed costs
- Multi-channel order tracking and three-way sales reconciliations (order -> payout -> bank)
- KPI and benchmark dashboard for performance monitoring
- Year-end tax-optimized financial package
- Integration with Avalara for automated sales tax calculations
- Optional InventoryIQ add-on for unit-by-unit inventory tracking, vendor management, and comprehensive inventory reporting
- Optional tax services for federal and state income tax preparation and filing