Data from CB Insights revealed that $1 out of every $5 raised globally last quarter went to Fintech. 😮 This quarter is shaping up to be a big one too — neobank (read: digital-only bank) Revolut just became the UK's biggest private company ever at a $33 billion valuation.
So what else are we seeing in this space lately? Mostly that people love when they don’t have to lift a finger. Here are recent launches that automate your finances:
Checking: Lance is a business bank account for freelancers that puts your checking account on autopilot, auto-budgeting your income every time you get paid. It even calculates, withholds, and pays your quarterly taxes (U.S. only for now).
Expenses: Volopay is automation for your business expenses. The new reimbursements feature takes care of reporting, receipt upload, approval flows, claims processing, and accounting automation. Isn’t that what Expensify does? Yes. Founder Rajith Shaji explained in the comments that what makes the product worth noticing is that it’s 1) forever-free and 2) one part of the company's ecosystem of offerings which includes corporate cards and money transfers.
eCommerce: Synder provides a single source of truth for online sellers who have various payment methods or subscriptions to manage. It automates your accounting and records fees to give you an instant overview of your multi-channel cash flow, and inventory too.
Commissions: Calculating sales commissions is not only cumbersome for accounting teams, it often leaves sales reps double-checking that their commissions were accurately calculated and fiddling with spreadsheets. PaletteHQ is a SaaS platform that connects to CRMs and accounting softwares to calculate commissions automatically.
Crypto: We wrote about Coinrule last month but we’d be remiss if we didn’t mention it here especially as it’s also a UK-based startup. Coinrule automates crypto trading across platforms by enabling their users to set up rules without code or bots.
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