Digits, the fintech startup based out in Silicon Valley, has announced bagging $22 million as part of Series B funding which is being led by GV, the venture fund previously known as Google Ventures. The round also saw participation from Benchmark and others.
Prior to raising this funding, Digits has got $10.5 million in November 2019 which was led by Benchmark. The other participants in that round were names like Jeff Fanan, Chloe Sladden, Adam Bain, April Underwood, Eric Wu, Katie Stanton, Nat Triedman, and others.
Digits was launched in 2018 by Jeff Seibert and Wayne Chang to develop one of the most powerful financial engines for modern businesses. As the firm announced the latest funding, it also confirms the launch of a dashboard called Digits for Expenses which will allow the owners to track the spending by the firm. It connects the accounting software, banks, payroll providers, financial packages, sources of revenue, and credit cards the company is using.
Annoucning the news through a blog post, Jeff Seibert and Wayne Chang said that “We are obsessed with the vision that business finance should be immediately accessible and intuitive. It should learn in real time as the business evolves, and it should empower business owners and operators everywhere, without requiring any prior financial training.”
Jessica Verrilli of GV commenting on the funding said that “Jeff and Wayne are masterful at creating intuitive, high-utility products from complicated data. I saw this up close with Crashlytics and Twitter, and I’m thrilled to partner with them on Digits as they reimagine financial software for startups.” Notably, Jessica Verrilli along with Benchmark’s Peter Fenton joining the board of Digits as part of the funding.
It will be interesting to see how the firm utiilizes the money it has got amid the global pandemic COVID-19.
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