Plooto, an end-to-end accounts payable and accounts receivable automation software platform, has scored $20m in a Series B raise.
The round was led by Centana Growth Partners as well as participation from investors Luge Capital and FINTOP Capital.
While building their first company, the founders of Plooto experienced the pain of operating a growing business firsthand. In 2015, the firm began by building a payments platform for small businesses to achieve greater control, convenience, and visibility over their financial practices at a reasonable price point.
Today, over 8,500 finance teams as well as accountants and bookkeepers use Plooto’s cloud-based financial solutions. Turbocharged by the adoption of remote-first work, Plooto continues to grow at a rapid pace. According to the company, the newly raised capital will be used to drive customer expansion, introduce new product lines, ramp up hiring and help Plooto customize its offering for more businesses, accounting and bookkeeping firms.