Overview

Found is a financial management platform tailored for small businesses and independent contractors. It provides tools for tracking income and expenses, managing taxes, and creating invoices. Users can customize their tracking, view real-time profit and loss statements, categorize expenses, log receipts, and generate professional invoices. Found's target audience includes small business owners and freelancers who seek efficient financial management solutions. Unlike many competitors, Found offers a free app with optional premium features, generating revenue through subscription fees and partnerships with financial institutions. The platform automates tax withholding and simplifies tax reporting, allowing users to focus more on their business growth.

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

$72.8M

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