Layer Secures $6.6M Seed Funding to Revolutionize SMB Accounting

Layer, an embedded accounting platform designed for small and medium-sized businesses (SMBs), has raised $6.6 million in seed funding, with Emergence Capital leading the investment round and contributions from Better Tomorrow Ventures. This funding aims to enhance Layer's mission of embedding accounting services directly into the software platforms SMBs use daily, offering a streamlined approach to financial management.

The shift towards digital solutions has seen SMBs adopt various software for operational tasks, yet accounting remains a manual and fragmented process for many. Layer's innovative approach integrates accounting and bookkeeping into existing platforms like Moxie, Nav, and Dripos, removing the reliance on external accounting tools or spreadsheets. Justin Meretab, CEO and co-founder of Layer, highlights the platform's ability to simplify financial tasks for SMBs, enabling them to focus more on their core business activities.

Kevin Spain from Emergence Capital underscores the transformative impact of Layer's solution, emphasizing its potential to alter how SMBs manage and comprehend their financial operations. With a growing customer base and support for over 30,000 SMBs, Layer plans to extend its services into new verticals and refine its AI-powered platform, utilizing the seed funding to cater to diverse industry needs.