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Functional Finance

Functional Finance

Private
San Francisco, CaliforniaFinTechhttps://www.functionalfi.com/

Last Round

Series A

Sep 19, 2024

Total Funding Raised

$22M

Momentum

Top 25%

of companies Caplight tracks

Company Overview

Functional Finance is an insurance technology company that provides a financial operations platform to automate billing, payments, reconciliation, and reporting for insurance carriers, MGAs, and wholesalers.

Sector

FinTech

Verticals

Accounting & Expense, InsurTech, Workflow Automation, Vertical SaaS

Business Model

B2B

Customer Profile

Subscription SaaS, Payment Processing Fee

AI Layer

Application

Keywords

insurance accountingfinancial operationsFinOpsautomated reconciliationInsurTechback-office automationmanaging general agentMGAvertical SaaSpayment processingfinancial reportingaccounting softwareAI-augmented accountingback-office softwareinsurance billing

Historical Pricing

Historical view of private secondary pricing and transaction trends.

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Caplight Momentum Score

Proprietary index based on bid/ask volume and sentiment.

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Functional Finance Comparables

Compare Functional Finance with similar companies based on industry and business-model similarity.

Functional Finance comparables — related companies by embedding similarity
CompanySimilarityMarket Cap
Ascend
82%
Advance
79%
Diesta
79%

Functional Finance Funding Rounds

Historical fundraising activity

Data table
RoundDateAmount RaisedValuationInvestorsSources
Series ASep 19, 2024
SAFEAug 3, 2023

Key People

Founding team and executive leadership

Rashmi Melgiri

Co-founder CEO

Founding Team

Hamid Azzawe

CPO CTO

Executive Team

Sasha Manoosingh

COO

Executive Team

Functional Finance Investors

Notable investors and investment history

Functional Finance investors
InvestorRounds
Munich Re VenturesSeries A
Walkabout VenturesSAFE, Series A
New Enterprise Associates (NEA)SAFE
Altai VenturesSAFE
Munich Re VenturesSeries A

Market signals

Structured signals derived from secondary market and firmographic data.

  • Jun 20, 2026

    Monthly visitors grew 160% MoM, reaching 1.6K.

  • Jul 30, 2025

    Added Coterie Insurance, an insurtech company, as a customer.

Functional Finance Filings

Explore SEC and related filing metadata, where available.

Functional Finance filings preview — column headings only; records require access
TypeDateAmount OfferedAmount SoldFilingPagesDownload

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Frequently Asked Questions

Common questions about Functional Finance's valuation, stock price, and market status.

Is Functional Finance a public or private company?

Functional Finance is a private company.

What is the current stock price of Functional Finance?

Functional Finance is a private company with no public stock price. No recent secondary market data is available.

How much is Functional Finance worth (valuation)?

Valuation information for Functional Finance is not publicly available.

Can I buy Functional Finance stock?

Functional Finance shares may be available on secondary markets subject to transfer restrictions. Caplight facilitates secondary market transactions for accredited investors. Visit https://www.caplight.com to learn more.

When was Functional Finance's last funding round?

Functional Finance's most recent funding round was Series A on September 19, 2024.

Who are the main investors in Functional Finance?

Key investors in Functional Finance include Walkabout Ventures, New Enterprise Associates (NEA), Altai Ventures.

Will Functional Finance IPO soon?

No public IPO plans have been announced for Functional Finance.

How can I track Functional Finance secondary market activity?

Caplight tracks bids, offers, and trades for private companies. Visit https://www.caplight.com to monitor Functional Finance's secondary market activity and sign up for updates.

Firmographic Details

HeadquartersSan Francisco, California
Employee Range17
Year Founded2021
Last FundingSep 19, 2024

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