Collective raises $100 million

Collective, an all-in-one financial platform for solopreneurs, announced $100 million in new funding. The round includes a $40 million Series B led by General Catalyst, QED Investors, and Gradient Ventures, along with Intuit Ventures, FT Partners, and SemperVirens, alongside a $60 million growth facility from General Catalyst’s Customer Value Fund to fuel customer acquisition. The funding will also be used to accelerate Collective’s product development in banking and insurance.

Founded in 2020, the San Francisco-based startup provides business formation, payroll, tax, and bookkeeping services. Collective also offers business insurance through a partnership with Coverdash.

“AI is leveling the playing field, making it possible for a single individual to build a powerful, highly profitable enterprise. Traditional accounting firms scale by adding people. Collective scales with intelligence. Every workflow we automate and every part of the financial stack we bring onto the platform increases what Collective can do for our members. We’re building toward a world where a Business-of-One can access the financial capabilities of a much larger company without having to build the team behind it.” – Hooman Radfar, co-founder and CEO of Collective.

“With CVF, we look for companies with high-quality unit economics and a large market opportunity. We see solo businesses as one of the most dynamic segments of the economy, and we expect that trend to accelerate as AI advances. Collective has built a one-stop shop for their financial needs. Their vision and track record make Collective exactly the kind of company CVF was designed for.” – Pranav Singhvi, Partner and co-head of CVF, General Catalyst.