Company Research Report: Finally
Company Overview
Name, Mission of the Company
Finally
Mission: To help small and mid-sized businesses automate their accounting and finance functions, allowing them to manage their books efficiently while removing stress and making bookkeeping easier and more efficient.
When was the Company Founded and By Whom
Founded in 2018 by Felix Rodriguez, Glennys Rodriguez, and Edwin Mejia.
Key People in the Company
- Felix Rodriguez: Founder & CEO
- Glennys Rodriguez: Co-Founder & COO
- Edwin Mejia: Co-Founder & Business Development
- Nash Gadre: VP of Engineering
Where is the Company Headquartered
Miami, Florida.
Number of Employees
No information is available.
Revenue of the Company
No information is available.
What is the Company Known For
Finally is known for automating accounting and financial functions for small and mid-sized businesses through the use of AI-driven software.
Products
What Products Do They Offer
Finally provides a comprehensive suite of financial tools and services, including:
- Bookkeeping
- Payroll
- Bill pay
- Tax returns and preparation
- Corporate card
- Invoicing
- Expense management
- Cash flow management
- Mobile accounting app
- Payment processing
- Tax compliance
High-Level Description of the Product
Each product is designed to streamline a specific financial process for businesses, enhancing efficiency, accuracy, and ease of use.
Key Features of Each of the Products
1. Bookkeeping:
- Automated classification of financial transactions in real-time.
- Daily bookkeeping managed by in-house professionals.
- Integration with QuickBooks and Xero.
2. Payroll:
- Quick and efficient payroll processing.
- Automatic syncing with accounting systems.
- Tax filings with government agencies.
3. Bill Pay:
- Automated bill approval and payment.
- Same-day ACH or check payments.
- Scanning and uploading of bills and receipts.
4. Tax Returns and Preparation:
- Stress-free, tax-ready books.
- Quarterly federal business tax estimates.
- Depreciation analysis for new assets.
5. Corporate Card:
- No personal guarantee required.
- Real-time fraud protection.
- Spend and expense management software.
6. Invoicing:
- Professional invoice creation and customization.
- Online payment acceptance via ACH and credit cards.
- Automated payment reminders.
7. Expense Management:
- Elimination of manual expense reports.
- Real-time expense recording and categorization.
- Mobile receipt capture.
8. Cash Flow Management:
- Projections of cash in versus cash out.
- Real-time financial insights and analytics.
- Scenario projection models for financial decisions.
9. Accounting Mobile App:
- Access to business financials on the go.
- Customizable financial dashboards.
- Mobile receipt capture.
10. Payment Processing:
- Secure acceptance of all payment methods.
- Integrated with bookkeeping and invoicing systems.
11. Tax Compliance:
- Automatic alerts for tax deadlines.
- Document storage and bank-grade security.
Recent Developments
What Are the Recent Developments in the Company
- In February 2024, Finally added AI functionalities for better insight into small business accounting.
- Successfully raised $10 million in venture capital in February 2024 led by PeakSpan Capital with participation from Active Capital.
- Previous fundraising in March 2022 raised $95 million to support small business lending and automation of back-office functions.
What Are the New Products Launched
- Mentioned the introduction of an AI-powered bookkeeping app and a new version of its bookkeeping software.
What Are the New Features Added to the Existing Products
- Enhancement of functions related to payroll, expense management, and business banking apps via mobile versions.
- Addition of an AI-powered ledger to enhance business banking functions.
Any New Partnerships
- Partnership with Gusto for enhanced payroll services was established.
Note: The information above was gathered from the provided data sources. Any missing or unavailable data has been explicitly noted.
