Formations, a Bellevue financial management platform that maximizes self-employment’s financial security, has closed $8m Series A funding.
Arthur Ventures led the round.
The funds will be used by the company to expand its operations and to further develop its solution.
Established by tax and accounting expert Shahar Plinner and growth marketer Uri Bar-Joseph, Formations has developed a financial solution that leverages technology and human expertise to automate entity creation, bookkeeping, payroll, taxes and benefit allocations throughout the year.
The company has also announced a partnership with Gusto (a provider of small-business pay and benefit software) and is expanding its relationship to Xero, its preferred accounting solution.