Digits plans to use the funding to enhance its accounting and business finance solutions. Here are the top-line bullets you need to know.
Digits, a provider of financial management tools, has raised $65M in a Series C. The round drew participation from SoftBank Group, Google Ventures, 20VC, and Benchmark.
How’s the company performing?
- California-based Digits uses APIs, classification algorithms, and machine learning to develop financial management tools.
- Digits’ partner network manages 9K clients and generates $650B in revenue.
- The company’s software has been installed on 5B+ active devices.
- Digits currently processes more than 1T app events every month.
Source: Digits
Why does the market matter?
- The global fintech market is expected to reach a value of $324B by 2026, growing at a CAGR of 25.18%, according to Market Data Forecast.
- The fintech market has seen a funding boom in recent years. In 2021, fintech startups raised $132B, accounting for 21% of all venture dollars.
- The global fintech adoption rate stands at 25%, signaling a growth opportunity for providers and first movers.
