Finofo, a Calgary, Canada–based financial operations platform for mid-market and SMB businesses, has raised $3.3 million in seed funding.
Investors
The round was led by Watertower Ventures, with participation from Motivate Venture Capital, SaaS Ventures, and Alberta-based private investors.
Watertower Ventures is a Los Angeles–based early-stage venture capital firm founded in 2017. It invests in pre-seed and seed-stage startups across consumer tech, SaaS, fintech, media, and gaming. The firm provides hands-on support and has backed over 60 companies.
Finofo Use of Funds
The company will use the funding to support platform expansion, product development, and growth into new customer segments, following a year of tripled revenue.
About Finofo
Founded in 2022 by Prateek Sodhi and Charles Maranda, Finofo is a financial operations platform designed to simplify global payments, FX management, and accounts payable workflows for U.S. and Canadian businesses. Its features include consolidated multi-currency accounts, free ACH and EFT transfers across 90+ countries, real-time ERP integrations, FX cards with smart expense controls, and SOX-compliant workflows. The platform serves industries such as energy, logistics, and manufacturing, with a focus on multi-entity, cross-border businesses. Headquartered in Calgary, Alberta, Finofo serves hundreds of businesses across North America.
Funding Details
Company: Finofo, Inc.
Raised: $3.3M
Round: Seed
Funding Date: June 2025
Lead Investor: Watertower Ventures
Additional Investors: Motivate Venture Capital, SaaS Ventures, Alberta-based private investors
Company Website: https://www.finofo.com/
Software Category: Financial Operations / Cross-Border Payments / Fintech
Source: https://www.globenewswire.com/news-release/2025/06/10/3096975/0/en/Calgary-Fintech-Finofo-Raises-3-3M-to-Transform-Cross-Border-Financial-Operations-for-Mid-Market-Companies.html