Overview

Found is a financial management platform designed for small businesses and independent contractors, offering tools for income and expense tracking, tax management, and invoicing. Users can customize their tracking, view real-time profit and loss statements, and automate tax-related tasks, which reduces administrative burdens. Unlike competitors, Found operates on a free-to-use model with optional premium features, generating revenue through subscriptions and partnerships with financial institutions. The goal of Found is to provide efficient financial management solutions that help users focus on growing their businesses.

Simplify's Take

What believers are saying

• Integration with AI-driven advisory services enhances user engagement and satisfaction.
• Embedded finance allows Found to expand reach through non-financial platform partnerships.
• Growing gig economy platforms present opportunities for tailored financial solutions.

What critics are saying

• Increased competition from fintech startups like NOVO and Mercury threatens market share.
• Reliance on financial institution partnerships poses revenue risks if disrupted.
• Entry of former Square executives increases pressure to innovate and compete.

What makes Found unique

• Found automates tax withholding and generates Schedule C reports for users.
• The platform offers real-time profit and loss statements and customizable tracking.
• Found provides a free-to-use app with optional premium features for advanced services.

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Funding

Total Funding

$70.8M

Above

Industry Average

Funded Over

2 Rounds

$60,000,000

Series B

Feb 2022

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$60M

$65M

$100M

View all funding stages