Digits raises $22 million

Fintech startup Digits, which raised $10.5 million last November, is announcing its official launch along with a fresh $22 million round of funding led by GV.

The San Francisco-based startup claiming to be “the most powerful financial engine for modern businesses,” was created by the same team that built Crashlytics, which was acquired by Twitter for more than $100 million. Digits is unveiling its first product – a visual, machine learning-powered expense monitoring dashboard called Digits for Expenses, which helps business owners track how their company is spending money. Business owners can use the dashboard to search for transactions and find out things like their cash flow, how quickly expenses are growing, where costs can be trimmed, what services are being paid for on a recurring basis.

The new product is available for free for US-based startups and small businesses due to the current landscape and the fact that Digits has other paid product on its roadmap.

“Jeff and Wayne are masterful at creating intuitive, high-utility products from complicated data. I saw this up close with Crashlytics and Twitter, and I’m thrilled to partner with them on Digits as they reimagine financial software for startups. – Jessica Verrilli, General Partner at GV.

“Digits is a phenomenal and truly game-changing product. To be able to ask such a wide spectrum of financial questions and get to those answers immediately has been so empowering, and the team’s passion for the space is clear in all the small details. Thinking back to a finance world before Digits… feels like remembering Netflix as a DVD-by-mail service.” – Kenny Mendes, Head of Finance, People, and Operations at Coda.