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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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Prospa research: Two in three Aussie SMEs want rewards on their bills, yet only 8% are cashing in on supplier payments

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New Prospa and YouGov research finds SMEs would put an average of nearly $9,400 a month through a rewards-enabled payment platform, while only 8% currently route B2B payments through platforms offering rewards

SYDNEY, Nov. 16, 2026 /PRNewswire/ — Australian small and medium businesses could be missing out on rewards from thousands of dollars in necessary business spending each month, as rising operating costs continue to put pressure on margins.

New research from Australian fintech Prospa and YouGov found 84% of Australian SMEs have experienced rising operational costs, while 80% say unavoidable expenses have squeezed their margins over the past 12 months.

With businesses already paying suppliers, bills and other operating costs, the findings suggest SMEs are increasingly looking for ways to get more value from spending they cannot avoid.

Two in three Australian SMEs would use a rewards-enabled payment platform if given the option, yet only 8% currently use one for B2B payments. SMEs said they would put an average of $9,398 a month through a platform that offered rewards.

Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa, said: “Every business has regular expenses that need to be paid, regardless of the economic environment. This research shows there is an opportunity for business owners to get more value from those everyday payments, rather than viewing them as simply a cost of doing business.

“Australian SMEs are looking for more value from the unavoidable costs of running a business. Two in three would put overheads through a rewards-enabled payment platform if given the option, yet only 8% currently route B2B payments through one. That gap shows rewards-enabled business payments remain a largely untapped opportunity.”

Most SMEs are not earning rewards on B2B payments

The research found Australian SMEs currently use several methods to earn value from business spending:

23% use a business card that earns points, cashback or rewards.14% negotiate rebates or loyalty benefits directly with suppliers.8% use a B2B payment platform that offers rewards.A further 20% are actively looking for ways to get value or rewards from money they already spend.

“The results show that rewards are already part of how some SMEs approach business spending, although the methods used differ,” Bertoli said.

“For some businesses, this means using rewards cards to get more value from everyday spending. Others are negotiating rebates with suppliers or routing B2B payments through platforms offering rewards. The opportunity is to give more SMEs practical ways to get greater value from spending that is already part of running their business.”

SMEs would put thousands through rewards-enabled business payments

The amount Australian SMEs would put through a rewards-enabled payment platform varied by business size and structure:

Across all SMEs surveyed, the average was $9,398 a month.Non-sole traders would put through an average of $14,682 a month.Sole traders would put through an average of $6,214 a month.One in five SMEs would put at least $10,000 of monthly business spending through one.

Non-sole traders were also more likely to actively look for value or rewards from money they already spend, at 27%, compared with 16% of sole traders.

“The level of interest naturally depends on the size and structure of each business, as every business faces its own unique expenses and payment volumes. That’s why it’s important to recognise that solutions need to be flexible to meet these diverse needs,” Bertoli said.

“We launched Prospa Rewards because small businesses told us they want their everyday spending to work harder. Business owners already have suppliers, bills and other operating costs to pay. This is about helping them get something back from the spending that is part of their business.”

About Prospa Rewards

The findings come following the launch of Prospa Rewards, a business rewards platform designed to help eligible Australian small businesses earn value from eligible business payments and transactions they already make.

Eligible customers can earn one Prospa Point for every $1 paid on eligible transactions. Prospa Points can be redeemed for selected business essentials and gift cards, or converted to Qantas Frequent Flyer Points.

Eligibility criteria, transaction requirements and redemption terms apply.

 

About Prospa

Prospa is a leading fintech committed to unleashing the potential of every small business in Australia and New Zealand. We do this by developing fast, flexible, stress-free lending solutions and financial management tools that help businesses thrive.

At Prospa, we’re deeply committed to making a meaningful impact on the small business community and on our people. Since 2012, Prospa has helped over 45,000 small businesses access over $5 billion in business funding, working with over 20,000 partners, including brokers, accountants, and aggregator partners, to help unlock business funding for their small business clients.

In addition to our commitment to supporting SMEs, Prospa has also been recognised for its workplace practices, culture, and values, culminating in our certification as a Great Place to Work in Australia, a Great Place to Work in Technology, and, in 2025, a Great Place to Work for Women.

For more information about Prospa, visit prospa.com

Methodology

All figures, unless otherwise stated, are from YouGov. Total sample size was 500 adults. Fieldwork was undertaken between 30th July – 13th August 2026. The survey was carried out online. The figures have been weighted and are representative of all Australian business owners and primary decision makers of businesses with fewer than 50 employees (aged 18+).

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/prospa-research-two-in-three-aussie-smes-want-rewards-on-their-bills-yet-only-8-are-cashing-in-on-supplier-payments-302937153.html

SOURCE Prospa

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Prospa research: Two in three Aussie SMEs want rewards on their bills, yet only 8% are cashing in on supplier payments

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New Prospa and YouGov research finds SMEs would put an average of nearly $9,400 a month through a rewards-enabled payment platform, while only 8% currently route B2B payments through platforms offering rewards

SYDNEY, Nov. 16, 2026 /PRNewswire/ — Australian small and medium businesses could be missing out on rewards from thousands of dollars in necessary business spending each month, as rising operating costs continue to put pressure on margins.

New research from Australian fintech Prospa and YouGov found 84% of Australian SMEs have experienced rising operational costs, while 80% say unavoidable expenses have squeezed their margins over the past 12 months.

With businesses already paying suppliers, bills and other operating costs, the findings suggest SMEs are increasingly looking for ways to get more value from spending they cannot avoid.

Two in three Australian SMEs would use a rewards-enabled payment platform if given the option, yet only 8% currently use one for B2B payments. SMEs said they would put an average of $9,398 a month through a platform that offered rewards.

Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa, said: “Every business has regular expenses that need to be paid, regardless of the economic environment. This research shows there is an opportunity for business owners to get more value from those everyday payments, rather than viewing them as simply a cost of doing business.

“Australian SMEs are looking for more value from the unavoidable costs of running a business. Two in three would put overheads through a rewards-enabled payment platform if given the option, yet only 8% currently route B2B payments through one. That gap shows rewards-enabled business payments remain a largely untapped opportunity.”

Most SMEs are not earning rewards on B2B payments

The research found Australian SMEs currently use several methods to earn value from business spending:

23% use a business card that earns points, cashback or rewards.14% negotiate rebates or loyalty benefits directly with suppliers.8% use a B2B payment platform that offers rewards.A further 20% are actively looking for ways to get value or rewards from money they already spend.

“The results show that rewards are already part of how some SMEs approach business spending, although the methods used differ,” Bertoli said.

“For some businesses, this means using rewards cards to get more value from everyday spending. Others are negotiating rebates with suppliers or routing B2B payments through platforms offering rewards. The opportunity is to give more SMEs practical ways to get greater value from spending that is already part of running their business.”

SMEs would put thousands through rewards-enabled business payments

The amount Australian SMEs would put through a rewards-enabled payment platform varied by business size and structure:

Across all SMEs surveyed, the average was $9,398 a month.Non-sole traders would put through an average of $14,682 a month.Sole traders would put through an average of $6,214 a month.One in five SMEs would put at least $10,000 of monthly business spending through one.

Non-sole traders were also more likely to actively look for value or rewards from money they already spend, at 27%, compared with 16% of sole traders.

“The level of interest naturally depends on the size and structure of each business, as every business faces its own unique expenses and payment volumes. That’s why it’s important to recognise that solutions need to be flexible to meet these diverse needs,” Bertoli said.

“We launched Prospa Rewards because small businesses told us they want their everyday spending to work harder. Business owners already have suppliers, bills and other operating costs to pay. This is about helping them get something back from the spending that is part of their business.”

About Prospa Rewards

The findings come following the launch of Prospa Rewards, a business rewards platform designed to help eligible Australian small businesses earn value from eligible business payments and transactions they already make.

Eligible customers can earn one Prospa Point for every $1 paid on eligible transactions. Prospa Points can be redeemed for selected business essentials and gift cards, or converted to Qantas Frequent Flyer Points.

Eligibility criteria, transaction requirements and redemption terms apply.

 

About Prospa

Prospa is a leading fintech committed to unleashing the potential of every small business in Australia and New Zealand. We do this by developing fast, flexible, stress-free lending solutions and financial management tools that help businesses thrive.

At Prospa, we’re deeply committed to making a meaningful impact on the small business community and on our people. Since 2012, Prospa has helped over 45,000 small businesses access over $5 billion in business funding, working with over 20,000 partners, including brokers, accountants, and aggregator partners, to help unlock business funding for their small business clients.

In addition to our commitment to supporting SMEs, Prospa has also been recognised for its workplace practices, culture, and values, culminating in our certification as a Great Place to Work in Australia, a Great Place to Work in Technology, and, in 2025, a Great Place to Work for Women.

For more information about Prospa, visit prospa.com

Methodology

All figures, unless otherwise stated, are from YouGov. Total sample size was 500 adults. Fieldwork was undertaken between 30th July – 13th August 2026. The survey was carried out online. The figures have been weighted and are representative of all Australian business owners and primary decision makers of businesses with fewer than 50 employees (aged 18+).

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/prospa-research-two-in-three-aussie-smes-want-rewards-on-their-bills-yet-only-8-are-cashing-in-on-supplier-payments-302937153.html

SOURCE Prospa

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The Pan-Mass Challenge Exceeds 2026 Fundraising Goal with Record-Breaking $80 Million Gift Fueling Lifesaving Research at Dana-Farber Cancer Institute

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With its largest gift ever, the world’s most successful athletic fundraiser continues to shatter fundraising records at a time when cancer research needs support most

BOSTON, Nov. 15, 2026 /PRNewswire/ — The Pan-Mass Challenge (PMC), a bike-a-thon which has raised more money for charity than any other single athletic fundraising event in the world, today presented a record-breaking $80 million gift to Dana-Farber Cancer Institute, one of the nation’s top three cancer hospitals. Presented at a celebratory brunch at Rochambeau in Boston, this gift brings the PMC’s total contribution to Dana-Farber’s mission to more than $1.2 billion.

For the 20th consecutive year, 100 percent of every rider-raised dollar goes directly to Dana-Farber. Powered by thousands of riders and volunteers from across the world, every dollar raised helps fuel groundbreaking cancer research, lifesaving treatments, and patient care.

“$80 million isn’t just a number. It represents the next clinical trial, the next breakthrough, the next life saved, and the next patient who gets to ring the bell at the end of treatment,” said Billy Starr, PMC founder and chairman. “Now, more than ever, our riders, volunteers, donors, and corporate partners understood exactly what was at stake. They didn’t just meet the moment, they rode right past it. I’ve never been prouder of this community, and I’ve never been more confident that the cures we ride for are within reach.”

The record-breaking gift arrives at a pivotal moment in the nation. While federal research support and grant approval rates are shrinking, cancer rates continue to climb, with more than 20 million new cancer cases projected worldwide in 2026 alone. The PMC’s sustained giving is one of the most essential forces keeping transformative research at Dana-Farber moving forward.

“We are immensely grateful for the PMC’s longstanding support of Dana-Farber,” said Benjamin L. Ebert, MD, PhD, president and CEO of Dana-Farber Cancer Institute and PMC rider. “This unprecedented gift is an important milestone and will be used to shape the future of cancer care and research at Dana-Farber. I am honored to be one of thousands of committed PMC riders and volunteers who have played a role in making a big impact.”

The PMC is Dana-Farber’s single largest contributor, accounting for 67 percent of revenue for the Jimmy Fund, Dana-Farber’s community fundraising arm. But the most significant measure of the PMC’s funding is found in the discoveries that bring new hope to patients and families facing cancer. PMC support helped drive some of Dana-Farber’s most significant recent breakthroughs, including the discovery of menin inhibitors, the improvement of multi-cancer early detection, and the development of new types of cell therapies such as CAR-T cell therapy and tumor-infiltrating lymphocyte (TIL) therapy.

The unprecedented gift reflects a full year of riding and fundraising. In addition to the flagship PMC weekend, crucial funding was supported by the PMC’s further spokes in the wheel, including PMC Winter Cycle, an indoor spin event at Fenway Park; PMC Unpaved, a gravel bike ride; and PMC Kids Rides, mini bike-a-thons for children ages 2 to 15.

The PMC is co-presented by the Red Sox Foundation® and M&T Bank. To learn more, get involved, or donate, visit www.pmc.org.

About the Pan-Mass Challenge
The Pan-Mass Challenge (PMC) is a bike-a-thon that today raises more money for charity than any other single athletic fundraising event in the world. Founded in 1980 by Billy Starr – who remains the event’s founder & chairman, an annual cyclist, and a fundraiser – the PMC has raised $1.2 billion for Dana-Farber Cancer Institute through the Jimmy Fund. As Dana-Farber’s single largest contributor, the organization generates 67 percent of the Jimmy Fund’s annual revenue. 100 percent of every rider-raised dollar goes directly to fueling cancer research and treatment at Dana-Farber. In addition to its two-day bike-a-thon across Massachusetts, the PMC is powered by further “spokes in the wheel,” with initiatives including the PMC Winter Cycle, an indoor spin event, PMC Unpaved, a gravel bike ride, and PMC Kids Rides, mini bike-a-thons for children ages 2 to 15. The PMC attracts riders and volunteers from 44 states and eight countries and over 300,000 individual donors. Across events, the PMC has successfully melded support from committed cyclists, volunteers, corporate sponsors, and individual donors, all of whom are essential to the PMC’s goal and model: to attain maximum fundraising efficiency while increasing its annual gift. The PMC’s aspiration is to provide Dana-Farber’s doctors and researchers with the necessary resources to discover cures for all cancers. For more information, visit www.pmc.org.

About Dana-Farber Cancer Institute
Dana-Farber Cancer Institute is a global leader in cancer research and care, with a mission to reduce the burden of cancer through scientific discovery, clinical excellence, education, community engagement and advocacy. Dana-Farber is dedicated to a unique and equal balance of cancer research and care, offering more than 1,200 clinical trials and translating the results of discovery into new treatments for patients locally and around the world. U.S. News & World Report recognized Dana-Farber Brigham Cancer Center as the Best Hospital for Cancer in Massachusetts and number three in the nation, and Dana-Farber Boston Children’s Cancer and Blood Disorders Center as the Best Children’s Hospital for Cancer in the country, making Dana-Farber the only hospital in the country among the top three for both adult and pediatric cancer care. It is a federally designated Comprehensive Cancer Center and a principal teaching affiliate of Harvard Medical School.

About the Jimmy Fund
The Jimmy Fund is comprised of community-based fundraising events and other programs that, solely and directly, benefit Dana-Farber Cancer Institute’s lifesaving mission to provide compassionate patient care and groundbreaking cancer research for children and adults. Since 1948, the generosity of millions of people has helped the Jimmy Fund save countless lives and reduce the burden of cancer for patients and families worldwide.

The Jimmy Fund is proud of its longstanding partnerships with the Boston Red Sox and the Red Sox Foundation, the Boston Athletic Association, the Massachusetts Chiefs of Police Association, the Pan-Mass Challenge, and Variety Children’s Charity of New England, which was instrumental in the Jimmy Fund’s founding. Follow the Jimmy Fund on Facebook, Instagram, LinkedIn, TikTok, and X: @TheJimmyFund

Contacts

Jenna Lehan, on behalf of the PMC
Jenna@hollywoodagency.com

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SOURCE Pan-Mass Challenge

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