Proprietary know-how and interactive financials give small to medium-sized companies the actionable insights they should save hundreds on month-to-month bills
SCOTTSDALE, Ariz., Dec. 8, 2022 /PRNewswire/ —Â Uplinq, the tech-powered firm that gives superior bookkeeping options by knowledge automation and machine studying, as we speak introduced it has raised $5.6 million in seed funding to revolutionize how small enterprise homeowners handle bookkeeping and supply a extra streamlined means of accessing monetary knowledge to empower small-to-medium-sized enterprise homeowners (SMBs) with actionable insights. The funding was led by AZ-VC, the Arizona-focused enterprise capital fund that’s uniquely centered on supporting rising know-how firms all through the state. The spherical included a strategic funding from Reside Oak Ventures, the fintech-focused enterprise arm of Wilmington, NC-based Reside Oak Financial institution, one of many largest SBA lenders that is aware of firsthand the struggles of bookkeeping for small companies. Extra traders embrace Merus Capital and Members of the Kuwaiti Royal Household.
“SMBs begin a enterprise as a result of they’ve an curiosity, experience, or alternative in a sure space or {industry} – not bookkeeping. They’re typically compelled to select from poor choices corresponding to outsourcing to companies with inconsistent service, hiring an inner finance supervisor, or doing it themselves,” stated Uplinq CEO, Alex Glenn. “That is the place Uplinq is available in. We provide companies a greater approach to get skilled assist by our proprietary know-how, that not solely makes bookkeeping worry-free for the enterprise proprietor, but additionally gives them with highly effective knowledge automation and machine studying to raised perceive their funds and the way their enterprise can enhance.”
With month-to-month subscriptions and pricing based mostly on enterprise wants throughout a wide range of industries together with know-how, building, healthcare, actual property, and extra, Uplinq seamlessly integrates with over 10,000 monetary establishments and most of the assets companies already use together with QuickBooks, ADP, BambooHR, and most payroll, accounting, point-of-sale, and HR distributors. This course of is completed by Uplinq’s proprietary know-how that comprehensively gathers, organizes, and categorizes enterprise transactions, to offer unparalleled review-ready, real-time evaluation on the contact of a button. Because of their revolutionary know-how, they supply prospects with up to date financials each week — as an alternative of month-to-month or quarterly — and are piloting extra options with a deliberate launch in 2023.
“With continued financial uncertainty, new automated fintech like Uplinq helps companies take benefit by preserving monitor of adjusting prices and financials extra effectively than ever earlier than to make sensible enterprise choices quick,” stated Glenn. “This funding spherical will speed up the following section of Uplinq’s progress plans and increase our attain throughout this profitable $15 billion {industry}.”
The funding quantity will scale Uplinq’s advertising and marketing effectivity, gross sales energy, engineering capabilities, and buyer supply departments to assist the demand for its next-level answer within the vastly underserved bookkeeping fintech market.
“Our funding displays our view that machine studying and synthetic intelligence, coupled with comparative monetary evaluation in bookkeeping, is an untapped vertical, and Uplinq is poised to guide the cost in making SMB knowledge accessible and actionable for everybody,” stated Stephanie Mann, EVP of company improvement and technique for Reside Oak Financial institution. “Companies are solely as robust as their accounting programs, and the listing of organizations that may profit from Uplinq’s monetary knowledge and automation know-how is rising steadily every day. We stay up for seeing the brand new methods Uplinq will assist our community and new companies thrive now and sooner or later.”
“We’ve got met with dozens of top-notch know-how firms inside Arizona and past, and what stands out concerning the Uplinq crew is their infectious power and fervour for reimagining the bookkeeping {industry}. This can be very uncommon to really feel impacted to the purpose the place you meet an organization and get up the following morning with a pronounced sense of conviction a few crew’s means to execute their imaginative and prescient, however that’s Uplinq,” stated Benjamin Brockwell, Principal, AZ-VC. “We are keen to place our huge regional and world fintech weight behind Uplinq as they permit SMBs to construct extra sustainable companies.”
This present funding is along with a beforehand unannounced spherical of $1.6 million from extra seed traders.
For extra data, go to https://www.uplinq.ai/
About Uplinq
Uplinq revolutionizes how small enterprise homeowners take into consideration bookkeeping. By seamlessly connecting your online business accounts and industry-specific apps and offering a extra streamlined means of accessing your knowledge, you possibly can give attention to the issues that matter – managing your online business. Be taught how one can keep on high of your bookkeeping with out doing the work your self through the use of Uplinq, the monetary platform of the longer term.
Cision
View authentic content material:https://www.prnewswire.com/news-releases/uplinq-secures-5-6-million-in-seed-funding-to-revolutionize-automated-bookkeeping-and-financial-intelligence-for-smbs-301697992.html
SOURCE Uplinq