US-based fintech Paro has secured $25m in a Series C funding round to further build its platform for finance and accounting services.
The financing round was led by venture capital firm Top Tier Capital Partners.
It also saw the participation of Paro’s existing investors Revolution Ventures, Madrona Venture Group, and Sierra Ventures.
Top Tier Capital Partners senior managing director Garth Timoll, Sr. said: “Paro’s proprietary, AI-matching software solves a pain point felt in traditional marketplaces by proactively matching experts with the most appropriate job opportunities, enabling a trusted and reliable experience for all parties.
“Top Tier Capital Partners is excited to invest in Paro’s unique offering while supporting the company in its next evolution of growth.”
Through the funding, the artificial intelligence-driven finance and accounting solutions provider aims to support freelance experts as well as to continue its expansion with enterprise clients.
Paro has raised $67m to date, which includes a $25m Series B round in July 2021 and a $10m Series A round in September 2019.
Headquartered in Chicago, Paro has developed a platform that delivers flexible choices, ranging from transaction processing support to company development and financing strategy. The platform is designed to address key business concerns and promote growth.
Besides, the firm provides its network of finance experts with the tools and insights they require, including business development, marketing, and back-office support, to explore fruitful work on their own terms.
Paro aims to utilise the raised capital to expedite business with existing clients and to offer its platform to more enterprises who are in need of strategic finance and accounting services.
Furthermore, the company seeks to scale its product innovation, including improvements to its AI-powered suite of tools that helps experts streamline their earnings and business outcomes.
Paro CEO Anita Samojednik said: “The flexibility to tap on-demand experts with specialised financial knowledge within timing and cost constraints is something that every company is looking for right now.
“With our consistent focus on attracting the best experts, businesses of all sizes are engaging with our talent model. We help small businesses to large enterprises quickly access flexible and dynamic talent to achieve their goals.”
