Folio offers a business account that integrates accounting tools and automates expense tracking for contract workers and small enterprises, significantly reducing the time spent on bookkeeping tasks. By providing a transparent fee structure and seamless integration with existing accounting systems, Folio enhances financial oversight and simplifies financial management for its users.
Funding
$4M 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
Contract workers and small businesses often struggle with time-consuming bookkeeping tasks due to fragmented accounting tools and manual expense tracking. This can lead to errors, missed deductions, and a lack of real-time financial oversight.
Solution
Folio provides a business account that integrates accounting tools and automates expense tracking, significantly reducing the time spent on bookkeeping. The platform offers a user-friendly online banking experience with integrated accounting features, transparent pricing, and seamless integration with existing accounting systems. By automating receipt capture, categorization, and reconciliation, Folio streamlines financial management and enhances financial oversight for its users. The service also provides features such as push notifications for receipt reminders, real-time expense tracking, and automated data transfer to accounting systems.
Target Audience
Folio primarily targets contract workers, freelancers, and small businesses seeking to simplify their financial management and reduce bookkeeping overhead.
Features
- Business account with integrated accounting tools
- Automated expense tracking and receipt capture
- Push notifications for receipt reminders
- Real-time expense categorization and reconciliation
- Integration with Fiken and Tripletex accounting systems
- Support for Apple Pay, Google Pay, and Vipps
- Employee cards with customizable access
- Accountant access for efficient workflow