New York, United States & Bengaluru, Karnataka, India:
- doola raises $8M to assist US and non-US founders begin, run and develop their business:doola presents LLC formation: State filings, US mailing handle, getting an EIN, and establishing fee processors | Banking: doola Banking permits LLCs to financial institution and construct credit score in the US | Compliance: Bookkeeping, payroll, IRS tax filings, and tax consultations
- The variety of LLCs has grown almost twenty-fold since 1995, rising from fewer than 120,000 to greater than 2.5 million at the moment
- US month-to-month business functions are over 400,000 per 30 days (on monitor for 5M+ in 2022) and there are 50M+ impartial creators globally.
doola introduced at the moment that they’ve raised $8M in funding to proceed serving to entrepreneurs round the globe flip their dream thought into their dream US business. This new funding spherical was led by Nexus Venture Partners with participation from the Y Combinator Continuity Fund and extra.
It’s time for entrepreneurs to shift their consideration from admin and paperwork to innovation and product growth. By serving to founders with the authorized and admin aspect of their companies, doola permits founders, wherever they’re primarily based, to concentrate on what they do greatest.
This new fundraise comes proper after a worthwhile yr and the launch of doola Banking — an accessible manner for LLCs round the globe to financial institution and construct credit score in the US. This sparks a brand new period for doola as the firm focuses on democratizing entry to the US monetary ecosystem for all.
“doola demonstrates they are continuing to innovate with the end customer in mind. Their combined product suite is uniquely positioned to service the next generation of companies and support them in this market environment. We are excited to see what Arjun, JP, and the team can accomplish,” stated Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners.
Arjun Mahadevan, CEO, doola, stated, “doola is not just a formation service – we’re a fintech company. By providing adjacent financial tools designed to help emerging companies grow more efficiently, doola is the fuel these businesses need. Growing doola’s team will allow us to launch new products and iterate on existing products. We let data, customer feedback, and demand drive our product innovation. We are excited for this next stage of growth for our company. Our work at doola is far from complete; we’re just getting started. It’s just the tip of the global iceberg for us.”
About doola
doola is a trusted companion for serving to world entrepreneurs confidently type their corporations in the US. We assist our clients incorporate, entry US fee techniques, and keep authorized yr after yr by means of continued help, business fundamentals, and a global-first mindset. doola Banking permits entrepreneurs round the globe to open a business checking account in the US. As of at the moment, all corporations shaped with doola have entry to doola Banking and are eligible to obtain a business bank card — no credit score historical past or SSN required. doola is headquartered in New York City with an workplace in Hamburg, Germany. For extra info, go to www.doola.com.
About Nexus Venture Partners
Nexus Venture Partners is a number one early-stage enterprise capital agency partnering with extraordinary entrepreneurs constructing product-first corporations. With $2 billion beneath administration, Nexus operates as one workforce throughout the US and India. Nexus portfolio contains Apollo, Aryaka, Clover Health, Delhivery, Druva, FingerprintJS, Hasura, H2O.ai, Infra Market, Kaltura, Mezi, Observe.ai, PaySense, Postman, Pubmatic, Quandl, Rancher, Sibros, Turtlemint, Unacademy, and Zomato. For extra info, go to www.nexusvp.com.
Related Links
Website: https://www.doola.com
TikTok: https://www.tiktok.com/@doolahq
Twitter: https://twitter.com/doolaHQ
View supply model on businesswire.com: https://www.businesswire.com/news/home/20221108005056/en/
