Finofo Secures $3.3M Seed to Streamline Cross-Border Finance

Finofo, a Calgary-based financial operations platform, has secured a $3.3 million seed funding round led by Watertower Ventures, with participation from Motivate Venture Capital, SaaS Ventures, and Alberta-based private investors. This follows a $1.7M pre-seed round in 2023 and signals growing market momentum as Finofo continues to modernize global finance workflows.

1. Tackling a Critical Global Payments Challenge

Finofo is addressing a persistent pain point for finance teams:

• Complexity in global payments, FX management, and AP workflows
• Traditional banks and outdated systems have left mid-market and SMBs underserved
• Finofo simplifies operations with tools built for multi-entity, multi-currency workflows

Key use cases include:

• Consolidating multi-currency accounts
• Automating payables and FX conversions
• Replacing cheques and wires with instant local and global payments

2. Launch of $29 Small Business Plan

To support underserved SMBs—especially those still reliant on cheques—Finofo introduces a $29/month plan, offering:

• Unlimited local payments (ACH, EFT, SEPA) to 90+ countries
• ACH receivable accounts in the business’s name
• Live ERP sync with platforms like QuickBooks, Xero, Sage, Dynamics, and NetSuite
• Batch payments and real-time approval workflows
• Smart FX cards and expense control features

This plan aims to eliminate manual inefficiencies and high bank fees that slow down small businesses.

3. Investor Confidence and Market Fit

Jeremy Milken, General Partner at Watertower Ventures, stated:

“Finofo is tackling a mission-critical pain point… with deep domain expertise and a clear vision. We are thrilled to support their journey.”

Finofo has found strong product-market fit in verticals such as:

• Energy
• Manufacturing
• Logistics

All typically burdened with complex international payment and compliance needs.

4. Infrastructure Built for Scale

Finofo’s platform offers enterprise-grade capabilities, including:

• SOX-compliant approval workflows
• Multi-entity treasury and FX automation
• Fraud prevention and instant card freeze features
• Real-time insights into cash flow, currency conversion needs, and accounts payable

Co-founder Charles Maranda emphasized:

“Finance teams can ingest hundreds of bills, sync with ERP systems, and pay in any currency—all in under five minutes.”

With $3.3M in fresh funding and surging demand from SMBs and mid-market companies, Finofo is poised to become a leader in cross-border financial infrastructure. By eliminating the friction and cost traditionally tied to international finance, Finofo empowers businesses to scale confidently—without the operational drag of legacy systems.