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Finaloop Secures $35 Million in Series A Investment Led by Lightspeed Venture Partners

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Round brings Finaloop’s total funding to $55 million as it revolutionizes the way e-commerce and retail brands handle their finances

NEW YORK and TEL AVIV, Israel, June 17, 2024 /PRNewswire/ — Today, Finaloop, the real-time e-commerce accounting platform, announced it has raised a $35 million Series A round. Lightspeed Venture Partners led the round with participation from Vesey Ventures, Commerce Ventures, and existing investors, Accel and Aleph. The latest funding round, which brings Finaloop’s total funding to $55 million, will be used to further invest in its AI-driven e-commerce accounting software automation, its inventory management capabilities, as well as to expand its go-to-market and partnership efforts with accounting firms and data-driven marketing agencies.

Launched in 2020 with offices in New York and Tel Aviv, Finaloop is revolutionizing the way e-commerce and retail brands handle their finances by offering an automated accounting and bookkeeping service that moves at the speed and scale of their online business.

Finaloop makes all financial data accessible to e-commerce stakeholders, driving better, more profitable business decisions — from periodic accounting to real-time finance metrics. Finaloop is the first real-time, AI-driven accounting service tailored for direct-to-consumer (DTC) brands selling on Shopify, Amazon, Walmart, and many other online stores and marketplaces, as well as wholesale and multi-channel businesses.

The financing round comes following Finaloop’s success in demonstrating that the e-commerce market is craving a better solution to run its financial operations. In the last 12 months, Finaloop grew its customer base by 400%, now working with thousands of brands and managing over $13 billion in GMV on their platform.

At the heart of Finaloop’s automation capabilities sits Ricoⓒ, the first AI-driven reconciliation engine. Out of more than 70 million transactions, Finaloop has successfully automated the categorization and reconciliation of over 94% of those transactions.

“The entire e-commerce industry is built on an advanced technological stack with players like Shopify, Amazon, Gusto, Stripe, and others but the accounting and bookkeeping solutions used by these companies were lightyears behind every other tool in their toolkit,” said Lioran Pinchevski, CEO and founder of Finaloop. “E-commerce operators were left with outdated and in many cases erroneous books using archaic software like Quickbooks, Xero, and Netsuite which were created more than two decades ago and that simply could not keep up with the pace of their unique business. I experienced it myself when I founded my own DTC brand. The result was inventory mismanagement, incorrect pricing decisions, and unreliable financial reporting.”

“We’re excited to be joining forces with Lightspeed who share our vision of becoming the financial source of truth for all retail brands. We’re seeing a tectonic shift in the e-commerce market from growth at all costs to profit-driven and financial management. By providing real-time, financial visibility, Finaloop helps brand founders develop their financial IQ and propels them to become not just great marketers, but also great overall operators.”

Used by some of the most well-known DTC brands in the space like Heart & Soil, Duradry, Crossnet, Netrition, and Marcella NYC, Finaloop helps e-commerce founders, operators, and forward-thinking bookkeepers and accountants make smarter, data-driven decisions by removing the financial blind spots. The result is faster growth, better cash flow management, and more accurate COGS and inventory planning. Jack Benzaquen, CEO of Duradry and one of Finaloop’s earliest customers, swears by Finaloop: “The magic of Finaloop is that they simplify the financial process and finally give me trust in my numbers. Having this visibility is key and it never existed before.”

“Finaloop is shaking up an industry that hasn’t seen material change in over 30 years. They are at the forefront of reshaping accounting and bookkeeping for e-commerce by solving their biggest pain points,” said Tal Morgenstern, Partner at Lightspeed. “We’re excited to support the Finaloop team with their goal of providing e-commerce companies real-time financials, giving them an invaluable edge over their competitors.”

About Lightspeed
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsvp.com

About Finaloop
Finaloop is an AI-driven, automated e-commerce accounting platform providing bookkeeping and accounting services that fully reconcile all the financial data in real-time, supplying consumer brands with flawless books, tax-ready financials, inventory costs management, and actionable insights 24/7 with complete accuracy. Combining deep accounting domain expertise built into software, and utilizing AI supervised by accounting and e-commerce experts, Finaloop provides the financial data brands need to stop wasting time and money, make smarter decisions, and focus on growing their profits.

For additional company information, please visit https://www.finaloop.com

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SOURCE Finaloop

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EFICYENT to Join Banks and Fintech Companies at Singapore FinTech Festival 2026

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DUBAI, UAE, Nov. 14, 2026 /CNW/ — EFICYENT, a cross-border payment platform, is going to attend the Singapore FinTech Festival (SFF) 2026, which is going to be one of the world’s largest gatherings of the global financial and technology ecosystem.  It will take place between November 18 – 20, 2026, at Singapore. This event will converge policymakers, financial institutions, fintech companies, and investors to discuss the developments that are going to shape the future of fintech.

As financial institutions are desperately discovering new technologies, evolving payment infrastructure, and better ways to move money across borders, SFF 2026 is going to be an ideal platform for industry collaboration and knowledge exchange. The event will explore key forces transforming the financial system, including technology, geoeconomics, capital, talent, and policy, developing opportunities for businesses to engage with global industry leaders and explore emerging possibilities.

By participating in this event, EFICYENT is looking forward to connecting with other fintech companies, banks, financial institutions, and peer industry stakeholders to share their ideas, discover potential collaborations, and hold a conversation on the growing demand for efficient global payment infrastructure. Also, the company’s presence will provide an opportunity to demonstrate how its capabilities can assist businesses navigating increasingly interconnected financial markets.

Ahead of the participation, Aravinth Ramesh, CTO at EFICYENT, said:

“As financial services entered a chapter where businesses expect something beyond the ability to transfer money. They need payment platforms that offer speed, transparency, flexibility, and access to global markets. So I think events like SFF create a better opportunity to know in which direction the industry is moving, to share our perspectives with industry leaders, and explore partnerships that drive meaningful progress.”

Balasubramanyam K, CEO at EFICYENT, added:

“The future of fintech will be shaped by how effectively technology, financial institutions and payment networks work together. And this SFF event is going to remain an excellent opportunity to connect with industry leaders, better understand emerging requirements, and discover new approaches to making cross-border payments more accessible and efficient.”

About EFICYENT

EFICYENT is a global cross-border payments and financial infrastructure platform that concentrates on enabling seamless international money transfers.

They focus on simplifying international transactions and advancing digital finance. EFICYENT is committed to supporting a seamless and interconnected global payments ecosystem.

Media Contact: 
EFICYENT
Dubai, UAE
Website: https://eficyent.com/ 
Email: support@eficyent.com
LinkedIn: https://www.linkedin.com/company/eficyent/

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SOURCE EFICYENT

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SmallRig Joins Art World Figures to Discuss Creativity and Authenticity in the AI Era–and How Art and Technology Can Drive Innovation

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SHENZHEN, China, Nov. 14, 2026 /PRNewswire/ — As generative AI changes how images are made, one question grows more urgent: what still belongs to the human behind the lens? On November 11, Shenzhen International Art Museum and SmallRig, the imaging-gear brand built for creators, took up that question together by hosting an international exchange on how art and technology ecosystems are being reshaped in the AI era.

The conversation brought together leaders of Chinese art museums, Anett Holzheid, senior curator at Germany’s ZKM Center for Art and Media Karlsruhe, artists and SmallRig co-founder Gao Haiyan.

Zhang Zikang, director of Shenzhen International Art Museum and professor at the Central Academy of Fine Arts, said art and technology are a key direction for the museum, rooted in Shenzhen’s tech environment. Wang Shaoqiang, director of the Guangdong Museum of Art, described using AI to produce short films about classic works, which cut cost and production time, yet stressed that art must return to personal growth, understanding of the world and the expression of Eastern aesthetics. Holzheid views exhibitions as shared ground for artists, audiences and curators, and sees AI widening perception and enabling collaboration across disciplines.

Zadok Ben-David used AI to explore bird forms for an installation, repeatedly refined the images and selected some for the work, determined that it retain an artist’s character, emotion and humanity. A photographer set an AI-generated lightning strike against a desert he had photographed himself, gaining new ideas but noting that generated imagery tends toward sameness, while real presence at a scene cannot be substituted. Spatial artist Feng Yu championed honesty of material, where imperfection and unplanned outcomes can carry sincerity.

Speaking for SmallRig, Gao noted that technology has opened imaging to everyone, but “AI cannot replace real-life experiences or the act of capturing them.” AI can be an efficient, enabling creative tool, he said, but it cannot meet the human need for real images.

In SmallRig’s view, technology helps more people express what is real, while art and creator’s real needs give innovation its direction. The company will therefore move closer to creative scenes and the creators themselves, developing solutions faster for people who make real images.

After the forum, guests visited SmallRig’s headquarters to unveil Ode to the Orchid, an installation co-created with Feng Yu and the first of his works placed in a corporate workplace. Instead of sponsoring an exhibition or releasing a co-branded product, SmallRig placed art in everyday spaces, so people meet it in passing rather than behind museum walls.

Gao said companies often move from manufacturing to technology, while SmallRig also wants to merge with art and creativity. The space is only the surface. The real aim is an open, diverse, inclusive and creative culture, and a lasting bond with creators built on shared taste. SmallRig will keep working with artists, exploring art IP and cultural products, and linking products, content and services into one ecosystem. More activities to support creators are also on the way, bringing the meeting of technology and art into everyday creative practice. Real images remain where SmallRig starts, and where it hopes to innovate alongside creators.

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uSMART Securities Singapore Marks Third Branch Opening in Bugis with Lion Dance and K-pop

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SINGAPORE, Nov. 14, 2026 /PRNewswire/ — uSMART Securities Singapore officially opened its third branch at 516 North Bridge Road, #01-00, Singapore 188740 expanding its physical presence in Singapore with a new uSMART Investor Hub. The opening was marked by a private ceremony featuring a speech, a traditional lion dance and a K-pop dance performance, bringing together the uSMART team, esteemed guests and partners.

The Bugis opening marks another milestone in uSMART’s expansion in Singapore, following the launch of its first local branch at Robinson Road in July 2025 and its Somerset branch in October that year. The new branch reflects the company’s approach of combining digital trading with face-to-face support, offering clients an additional location to make enquiries, receive assistance with account opening and engage directly with the team.

Speaking at the ceremony, Mr Eng Thiam Choon (TC Eng), Chief Operating Officer of uSMART, highlighted the importance of maintaining physical branches alongside digital brokerage services. Clients may appreciate the opportunity to discuss opening their first investment account, gain a better understanding of products available on the app or receive assistance with any issues.

“Customers should have a choice in how they deal with us. If they’re comfortable doing everything on the app, that’s fine. If they’d prefer to come in and talk, we want to make that possible too,” said Mr Eng.

Drawing on its experience operating branches in Hong Kong, uSMART has tailored this approach to the Singapore market through ongoing engagement and conversations with local clients.

Mr Eng also highlighted the importance of understanding different trading rules, currency exposure and diversification as investors explore more markets. Seminars and conversations with the branch team will support these learning opportunities, equipping clients with the knowledge and information they need to make informed investment decisions.

“You don’t need to come with a decision already made. You can come with a question,” said Mr Eng.

Beyond the opening celebrations, Mr Eng highlighted the importance of consistent client service through attentive listening, clear communication and following through on commitments.

About uSMART Securities (Singapore) Pte. Ltd.

Established in March 2021, uSMART Securities (Singapore) Pte. Ltd. is the Singapore entity of uSMART Group, which holds a Capital Markets Services licence issued by the Monetary Authority of Singapore (MAS) (Licence No. CMS101161).

Through the uSMART platform, the company provides access to stocks across global markets, as well as ETFs, options, futures, funds, Contracts for Difference (CFDs) and forex products. Its services include digital trading tools and client account support.

In addition to its digital trading platform, uSMART offers structured investment solutions, including Fixed Coupon Notes (FCNs), catering to investors with different investment objectives and risk preferences. Through its growing network of physical branches, the company also provides face-to-face assistance, investor education and account support, complementing its digital services.

Branch Address

uSMART Securities – Bugis Branch
516 North Bridge Road, #01-00
Singapore 188740

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SOURCE uSMART Securities (Singapore) Pte. Ltd.

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