Tola, an all-in-one AP/AR platform with built-in financing, empowering SMBs to streamline cash flow management, today announced it has raised $10.2 million in seed funding. The round was led by Sequoia Capital, with participation from Cherry Ventures, Creandum, RTP Global, Founders, Y Combinator, Zinal Growth, and Pathlight VC, along with support from several notable fintech founders and operators.

Addressing a Crucial SMB Challenge: Cash Flow Management

Small and medium-sized businesses (SMBs), often referred to as the “backbone” of the economy, have created 65% of net new jobs in the U.S. since 2000. Yet, despite their vital role, SMBs are frequently underserved by financial institutions, leaving them reliant on outdated, manual payment processes—like checks—while grappling with their number one concern: cash flow.

Tola’s co-founders, Alen Cvisic and Guillaume Simard, saw this firsthand during their years working at Pleo, serving thousands of SMBs. “We’ve spent years in the B2B payments space and quickly realized that the single biggest pain point for SMBs is cash flow. It’s what keeps them up at night,” said Alen Cvisic, CEO and co-founder of Tola. “We designed Tola to holistically address this issue by giving SMBs the tools they need to manage payments and cash flow efficiently, all while providing flexible payment terms and integrated working capital.”

Tola’s platform consolidates accounts payable (AP), accounts receivable (AR), cash flow insights, and working capital into one solution. This empowers SMBs to better manage their payment processes and cash flow conversion cycles in one place.

A Proven Track Record

Tola is already supporting more than 100 SMBs across industries such as wholesale, retail, hospitality, and professional services. The platform enables businesses to manage all payments in one place, offering solutions to solve cash flow conversion challenges with built-in access to working capital.

To date, Tola has facilitated millions in working capital for its clients, achieving lower-than-average default rates in the SMB financing sector. It has helped companies like
Homecourt, Sunnie, Bim Bam Boo and Triton Sensors.

“Before Tola, we used checks for everything. We've definitely modernized how we deal with payments,” said Lance Parthemore, co-founder of Triton Sensors.

This seed funding comes at a time when fintech investment is slowing, highlighting Tola’s unique value proposition and the confidence investors have in the company's potential.

"Tola is not just another fintech solution; it's a game-changer for small and medium-sized businesses,” said George Robson, partner at Sequoia Capital. “By combining accounts payable, accounts receivable, and financing into one seamless platform, Tola is modernizing financial processes and streamlining payments to help small business owners take back control of their cash flow. Alen and Guillaume are world-class founders and we are excited to be partners on Tola’s journey.”

Tola’s mission is to provide SMBs with an entire suite of world-class financial tools that streamline all payments, optimize cash flow, and integrate working capital solutions in one bundled solution. With this new round of funding, Tola plans to accelerate product development and grow its customer base.