USA – Arc, a San Francisco, CA-based finance startup, raised $20M in Series A funding.
The round was led by Left Lane Capital with participation from NFX, Y Combinator, Clocktower Technology Ventures, Torch Capital, Atalaya, Bain Capital Ventures, Soma, Alumni Ventures, Dreamers VC, Wayflyer, Plaid, Column, Chargebee, Vouch, and Jeeves. In conjunction with the funding, Dan Ahrens, Managing Partner at Left Lane Capital, will join Arc’s Board of Directors.The company intends to use the funds to accelerate its growth and expand the availability of its treasury and software products. Led by CEO Don Muir, Arc recently expanded its suite of fintech tools with the launch of Arc Treasury in June 2022. Arc Treasury is a digitally native and vertically integrated cash management account that enables startups to access the essentials including instant deposits, free money movement, unlimited cards, spend control, and benefits—without the drawbacks of legacy offline financial institutions. The company’s other solutions include Arc Advance, which allows founders to convert future revenue into upfront capital, and Arc Runway, which helps startups analyze their net cash burn to more efficiently deploy their capital to maximize runway. Continued product line expansion is expected throughout the remainder of 2022, with a focus on financial software and analytics.Arc today supports 1,000+ high-growth software startups on its platform.16/08/2022
