Original article by Carly Berns and Lee Race

Arc—the pioneer in startup funding—announced the completion of a $20 million Series A financing round headed by Left Lane Capital. 

NFX, Y Combinator, Clocktower Technology Ventures, Torch Capital, Atalaya, Bain Capital Ventures, Soma, Alumni Ventures, and Dreamers VC are among the other investors, as well as the creators of Wayflyer, Plaid, Column, Chargebee, Vouch, and Jeeves. 

The business plans to utilize the additional money to increase the reach of its software and treasury products, which are designed to assist businesses in accessing and managing cash while maintaining equity. Dan Ahrens, the Managing Partner at Left Lane Capital, has also been appointed to the company’s Board of Directors.

Arc, which was established in 2021, offers startups the financial tools they need. Future revenue from companies is converted into up-front funding by Arc, which also offers a cash management account for storing, managing, and spending money. Arc also offers financial analytics to promote business growth. This tremendous success, therefore, holds a lot of promise for all start-ups of the future.

“We are building the #1 digital bank for software startups,” said Don Muir, Co-Founder, and CEO of Arc. “For the first time, startups can tap into their future revenue to access capital without dilution, deposit those funds into an FDIC-eligible account, and leverage proprietary finance software to optimize growth. We’re thrilled to join forces with this talented group of investors who bring relevant experience transforming fintech and SaaS startups into market-leading platforms. This capital injection will help us build and scale Arc Treasury to meet the digital banking needs of a new generation of software-driven businesses.”

Arc was established on the premise that high-quality businesses should have access to a high-quality non-dilutive and non-debt investment alternative as well as financial tools to scale more quickly and on their terms. Since receiving seed funding in January 2022, the company has grown significantly, and it now helps 1,000+ high-growth software startups on its platform.

Arc recently added Arc Treasury to its arsenal of fintech products, which went live in June 2022. Startups can access the essentials, such as instant deposits, free money movement, unlimited cards, spending control, and market-leading advantages. All this is without the drawbacks of traditional offline financial institutions and with the help of Arc Treasury, a digitally native and vertically integrated cash management account.

The company also offers Arc Advance and Arc Runway. Arc Advance enables entrepreneurs to turn future revenue into up-front capital. Arc Runway helps startups in analyzing their net cash burn and maximizing runway through more effective capital allocation. Throughout the remaining months of 2022, it’s anticipated that the product line will continue to expand, with a concentration on financial software and analytics.

Every startup that is determined to find financing that will support them on their journey should consider Arc. Startups who open an Arc Treasury account today will be eligible for a temporary discount on Arc Advance financing. To see if you are eligible and to join the thousands of entrepreneurs that are already using the Arc platform, check here.