Announcing our $3.5m Seed Round
Today, we are thrilled to share that we have raised a $3.5M Seed Round led by Moonfire Ventures!
We started LiveFlow to help millions of businesses around the world to better manage their finances, and this new capital will help us to get there even faster.
"Accurate financial reporting is paramount to a business's longevity and success," said Mattias Ljungman, founder and managing partner at Moonfire Ventures. "LiveFlow provides a critical service by automating and streamlining the reporting process, giving businesses the visibility and real-time information they need to better manage their business."
We are also deeply thankful to all of the other investors that continue to believe in our vision, namely Y Combinator, Seedcamp, and WndrCo, as well as experienced operators such as Victor Jacobsson, co-founder of Klarna; Bradley Horowitz, former VP Product at Google; Oliver Jung, former VP International Expansion at Airbnb; Phillip Chambers, Peakon founder & CEO; Conor Walsh, Head of Global Product at Square; Don Hoang, VP Global Business at Revolut; Snir Kodesh, Head of Engineering at Retool and more.
If there's one thing we realized throughout 2021, it's that the world has dramatically changed, and is continuing to do so as we speak. Parents working with kids on their shoulders from home, companies going fully remote, doctors providing healthcare online, the world's biggest conferences turning online, founders raising hundreds of millions of dollars via Zoom, employees never meeting in real life, and companies turning from a physical to a digital HQ.
The list of things that we never thought were possible is now reality – yes, this is really happening.
Company culture is changing for good
Millions of companies have already been forced to dramatically change the way the operate, and whilst a tiny portion like Zapier only had to make minor changes, as they were already prepared for a fully remote culture, most other companies had to undergo severe operational and cultural changes in the way their company is operating – changes which has significant impact on finance and financial reporting – if bringing together thousands of financial data-points scattered across dozens of data sources and buried in outdated spreadsheets was tough before remote work took off, then doing this in a remote setting is even harder… Especially as people are unable to quickly tap a shoulder to get the data they need.
Radical change is needed to build the finance team of tomorrow.
And that's why we're building LiveFlow - To help the passionate founders starting new businesses to not worry about running out of cash, to help finance teams become fully automated and to help accountants provide better strategic advice to their clients – all so we can help our them free up their time, so they can focus on what matter the most: driving innovation and solving real problems.
And there are a lot of businesses out there in need of help: In 2020, just in the US, we saw over 14,000 new businesses being launched*, every single day – and that number is only expected to continue its growth in the next decade.
We have a long way to go
Although we are only a little tiny part of the way in realizing our vision to helping millions of businesses around the world build better businesses by automating their financial workflows, we are proud to serve dozens of accountants, finance teams, and founders who use LiveFlow to save time and automate financial workflows.
But we still have a lot of work ahead of us and we wake up every day thinking hard about solving these technical and non-technical problems and are looking for people who want to join us.
We are looking for hungry, collaborative, and humble engineers, marketers, and product folks who want to join us in building LiveFlow and have a massive impact on our growth, culture and impact on the world.
Join us here!
Lasse, Anita and Evan
Read the funding round announcement in the press here
TechCrunch: https://techcrunch.com/2021/12/21/fintech-startup-liveflow-raises-3-5m-seed-to-automate-financial-data-flows/
Finextra: https://www.finextra.com/newsarticle/39436/ex-revolut-execs-raise-35m-for-fintech-startup
Tech.eu: https://tech.eu/brief/herding-all-the-financials-into-one-corral-liveflow-raises-3-5-million/
Irish Times: https://www.irishtimes.com/business/technology/irish-co-founded-liveflow-raises-3-5m-from-prominent-backers-1.4760463
TechSavvy: https://techsavvy.media/tidligere-nordisk-revolut-chef-rejser-25-mio-til-at-automasiere-finansiel-rapportering/
IT-Watch: https://itwatch.dk/ITNyt/Startup/article13574817.ece
*Source: Census Gov US
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