Finli is a technology company.
Finli has raised $175K across 2 funding rounds.
Finli has raised $175K in total across 2 funding rounds.
Finli has raised $175K in total across 2 funding rounds.
Finli's investors include Feenix Ventures, MaC Venture Capital, Urban Innovation Fund, Blackhorn Ventures.
Finli is a fintech startup and certified B Corporation founded in 2019 that provides an all-in-one digital back office platform for small and medium-sized businesses (SMBs), particularly service-based solopreneurs like neighborhood studios, daycares, and landscapers.[1][2][3] It simplifies invoicing, payment collection, subscription billing, inventory management, CRM, and communications via a mobile-first app, addressing gaps in accessibility, cost, and ease for the 30+ million U.S. small businesses that often rely on cash, checks, or cumbersome tools like QuickBooks.[1][2][5] Finli's mission is to financially lift communities by eliminating the fintech access gap for these underserved owners, with features like an Inflation Calculator to help set pricing amid economic pressures, serving thousands of users and partnering with financial institutions for branded solutions.[1][2][4]
The platform targets microbusinesses and community-based operations, enabling quick setup to send invoices via email/SMS, track payments on the go, and digitize client management without high costs or complexity.[1][5] Growth has been strong: from 500 accounts at end-2021 to 3,000 by mid-2022 (a 500% increase), backed by $9.5 million in total funding including a $6 million seed round led by Urban Innovation Fund.[3][5]
Finli was founded in 2019 by Lori Shao, a 20-year fintech veteran specializing in mobile technology and digital payments, after she observed neighborhood service providers—like landscapers and after-school programs—still using checkbooks despite surrounding tech advancements.[3][5] Shao, based in San Marino, California, launched the company through the Techstars Los Angeles Accelerator that year, which proved pivotal: it connected her to all current investors, enabled hiring 14 employees (now 11 as of 2022), and built an advisor network, fueling early traction.[3]
The idea emerged from Shao's expertise and the COVID-19 pandemic's spotlight on small businesses' analog processes; Finli quickly pivoted to "Finli Classes," scaling from 2 virtual classes in April 2020 to over 200 in a month to bring offline education online.[3] Early focus on family-centric businesses like daycares and dance studios addressed persistent payment lags—no Venmo or PayPal equivalents—evolving into a comprehensive platform as user needs grew, with Techstars crediting it for rapid fundraising and team expansion.[1][3]
Finli rides the fintech democratization wave for the "forgotten majority"—99% of U.S. businesses are small, yet they lag in tailored tech amid rising inflation, digital shifts post-COVID, and SMB digitization demands.[1][3][5] Timing aligns with pandemic-accelerated needs for virtual payments/classes and economic tools, while market forces like high abandonment of complex platforms (e.g., QuickBooks) create openings for simple, mobile alternatives.[3][5]
It influences the ecosystem by bridging SMBs to banks via data-rich receivables (de-risking lending, boosting revenue), supporting merchant services, and empowering blue-collar entrepreneurs—shifting perceptions and enabling legacy-building for underrepresented owners.[2][4][6] As a B Corp, Finli advances inclusive fintech, helping financial institutions attract SMBs and meet community reinvestment goals.[2][4]
Finli is poised to expand its platform with business banking features, leveraging $9.5 million funding to grow the team and user base beyond 3,000 accounts, while deepening bank partnerships for embedded fintech.[4][5] Trends like AI-driven pricing tools, further SMB digitization, and regulatory pushes for financial inclusion will propel it, potentially capturing more of the 30+ million U.S. small businesses.[1][2]
Its influence may evolve from niche service-provider tool to essential infrastructure for community economies, amplifying "financial lift" through data insights and branded FI solutions—reinforcing its role as the streamlined backbone for solopreneurs modernizing without margins eroded.[1][4]
Finli has raised $175K across 2 funding rounds. Most recently, it raised $150K Seed in September 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2024 | $150K Seed | Feenix Ventures, MaC Venture Capital, Urban Innovation Fund | |
| Sep 1, 2020 | $25K Seed | Blackhorn Ventures, Feenix Ventures, MaC Venture Capital |