Nilus raises $8.6M to solve the payments data problem with the first plug-and-play financial operations platform
We have seen an incredible rise in the number of companies handling customer payments in recent years. As these companies scale, they expand to new markets, add new products, and handle increasing transaction volumes. Whether the payments are business or consumer, online or offline, the scale and complexity of payments continue to soar.
But behind the scenes, there’s a complicated web of back-office teams dealing with disjointed systems that are struggling to make sense of their transactions. As data becomes scattered across payment providers, accounting software, and data warehouses, operations and financial visibility become impossible to manage.
Platforms handling payments have a huge data problem.
We experienced this firsthand during Daniel’s time at Paypal and while Danielle was building financial products at Fundbox. We’ve been the builders and operators stitching together data and patchwork solutions. These systems are costly to maintain, don’t scale with the business, or serve the needs of finance leaders.
Throughout our career in fintech, we’ve seen finance teams running in circles trying to identify unknown customer payments that land in the bank account, reconcile millions of dollars over spreadsheets, and track chargebacks over SQL. Teams spend weeks ping-ponging back and forth over long email threads and offline reports trying to make sense of a single transaction.
These manual operations are time-consuming and susceptible to error. Nobody in the organization has full visibility and each team operates using data sets that do not match.
Companies should be able to work with their payments data in one place and have a real-time view of cash, mitigate risk, and always be audit-ready. With this vision, Nilus was born.
Introducing Nilus: the plug-and-play platform for financial operations
Nilus is the first no-code platform that automates reconciliation, reporting, and payment workflows to empower finance teams with financial transparency and complete control.
By unifying data from your payment providers, banks, platform, and ERP, Nilus creates a single source of financial truth for all your payment activity.
Nilus provides a seamless plug-and-play experience for financial operators. With our automated workflows, pre-built data connectors, and smart reconciliation algorithms, Nilus eliminates dependence on tech teams and spreadsheets to get the job done.
Our $8.6M in Seed funding led by Bessemer Venture Partners
We’re excited to announce $8.6M in seed funding led by Bessemer Venture Partners, alongside Better Tomorrow Ventures and Symbol. We are also thrilled to be backed by CEOs and founders from incredible fintech companies including Unit, Alloy, Melio and Lithic, who are working closely with us to bring the vision to life.
“We’ve seen so many companies working with out-of-date financial workflows, the space is desperately in need of innovation. Nilus is bringing a new solution to the market by addressing the underlying data problem. We're extremely impressed by Nilus' strong team. They deeply understand the problem and have the ability to execute on their vision for their customers.”
Adam Fisher, Partner, Bessemer Venture Partners
We are already supporting market-leading companies processing hundreds of millions of dollars. With our latest funding, we’re excited to bring our solution to market and onboard additional customers. We are also focused on building our go-to-market teams and deeper automation and no-code tools to enable the most seamless user experience.
“When looking into this problem, we were stunned at how many companies still use Excel for financial reconciliation. Daniel and Danielle came to us with a clear mission to solve the problem and are bringing new technology to make it happen.”
Sheel Mohnot, Better Tomorrow Ventures