Finally is a One-Stop Shop for SMBs — Miami AI Startup Secures $200M in New Funding

What if small and medium-sized businesses (SMBs) didn’t have to juggle dozens of apps just to manage their finances? Miami-based startup Finally is tackling this problem head-on, raising a staggering $200 million in equity and debt to expand its AI-powered bookkeeping and financial services for SMBs.

This fresh round includes $50 million from a Series B raise led by PeakSpan Capital, alongside a $150 million credit line from Encina. It's a significant leap just seven months after the company raised $10 million, bringing its total capital raised to $305 million since its inception in 2018.

Finally, founded by Felix Rodriguez and his wife, Glennys, began with a mission to level the playing field for small business owners. Felix, inspired by watching his Dominican Republic-born family start businesses in the U.S. and facing his own entrepreneurial challenges, identified the complexities SMBs face when managing their finances. Along with co-founder Edwin Mejia, the Rodriguez duo transformed their vision into an AI-driven platform that goes beyond bookkeeping.

Now, Finally offers a multi-product platform including AI-powered accounting, expense management, and even payroll processing. In 2022, the company added an AI-powered ledger, integrating business banking functions into the mix. Competing with major players like Brex and Ramp, Finally sets itself apart by being a one-stop shop for SMB finance, eliminating the need for business owners to learn and manage multiple apps.