Functional Finance

About Functional Finance

Functional Finance is a financial operations platform designed for the insurance industry, specifically for MGAs, wholesalers, and insurers. It aims to automate financial operations such as billing, invoicing, reconciliation, and money movement, enhancing efficiency and providing real-time data and reporting to help businesses scale and focus on growth.

Products & Services

SaaS Platform for Financial Operations:A platform to automate billing, reconciliation, and money movement for MGAs, wholesalers, and carriers, featuring digital invoicing, omnichannel payments, automated payables, treasury management, and comprehensive reporting.

Billing and Payment Solutions:Supports various billing modules and payment plans, including direct bill, agency bill, net or gross commission, installment payments, and pay-in-full options, offering flexibility to customers.

Integration and Data Tools:Seamlessly integrates with existing systems like AMS, PAS, data warehouses, and G/L systems, providing live dashboards, custom views, and partner portals for enhanced visibility and collaboration.

Specialties

Financial Operations Automation Billing and Invoicing Reconciliation Premium Collection and Payables Real-time Data and Reporting Insurance-specific Financial Solutions

Funding History

Debug: View Raw Funding Data

#	Type	Amount Fields	Date Fields	Investors
1	RT: Series A T: - FT: Series A	A: 20000000 MR: - FA: 20 million FAN: 20000000	D: 2024-09-19 FD: 2024-09-19	3 investors
2	RT: Seed T: - FT: Seed	A: 8000000 MR: - FA: $8 million FAN: 8000000	D: 2023-08-03 FD: 2023-08-03	4 investors

Series A Latest

2024-09-19

$20.0M

3 investors (Pro only)

Seed 2023-08-03

$8.0M

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Growth Metrics

+45%

Employee Growth

YoY

3.2x

Funding Growth

Last Round

12

Markets

Operating

10K+

Customers

Active

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Team & Leadership

R

Rashmi Melgiri

Co-Founder & CEO

LinkedIn (Pro only)

T

Tony DeGangi

Co-Founder & CTO

LinkedIn (Pro only)

J

Jim Ermilio

President

LinkedIn (Pro only)

L

Linda Briscoe

Chief Customer Officer

H

Hal Schwartz

Chief Administrative Officer & General Counsel

S

Steve Hauck

Former Co-Founder

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