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June 7, 2023

Intuit Ventures Invests in Finch

Today we’re proud to announce additional funding led by Intuit Ventures, the venture capital fund of Intuit. Intuit’s QuickBooks payroll is the #1 payroll provider for small businesses.

The employment data ecosystem was built in an era of data silos. Even today, connectivity remains a challenge with the standard practices to share mission-critical employment data bottlenecked by flat files, emails, and even faxes. We are in the early stages of an industry-wide evolution toward a more connected, secure ecosystem allowing for innovative solutions across fintech, HR tech, compliance, insurance, and benefits to proliferate.

Today marks another step toward that inevitable, connected future. Just four months following our $40M Series B investment announcement, we have raised additional capital from Intuit Ventures. With over 1.6 million businesses utilizing Intuit’s payroll in fiscal 2022, Quickbooks is the leading payroll provider for small businesses. Their deep expertise in business software, combined with their proven track record of building 3rd party application marketplaces made them a natural fit for Finch as we continue to unify the employment data ecosystem.

"We are constantly looking to invest in innovative companies that are solving critical problems our customers face.” said Adam Coccari, Managing Director of Intuit Ventures. “Finch’s unified API currently enables our partners and small business customers to seamlessly connect apps to their data in Intuit QuickBooks payroll so the products that they love work together. We look forward to collaborating with Finch as they build deeper integrations to serve developers and our joint customers.”

We’re particularly excited by what this means for customers and end users — we are well on our way to building a future of employment that’s open, connected, and programmable. Today’s employers are demanding their systems of record speak to one another so they can get the best insights into their operations. By opening up the Employment Data Ecosystem, Finch can unlock the full potential of the suite of solutions that utilize HR, payroll and benefits data. This investment from Intuit, a major player in the employment data ecosystem, further strengthens our position as the leading employment data API.

Join our team to help shape the future of the employment ecosystem! To learn more about Finch’s solutions, talk to our sales team or sign up for free today.

97% of HR professionals say it’s important for your app to integrate with their employment systems

Learn more in our State of Employment Technology report ->

97% of HR professionals say it’s important for your app to integrate with their employment systems

Download the report to learn more

Payroll Integrations Made for Retirement

Finch lets recordkeepers and TPAs integrate with the payroll systems their sponsors use to pull pay and census data and manage deductions automatically.

Learn how ->
Visualize the employment ecosystem

Thousands of applications make up the employment ecosystem, spanning uses from financial planning to employer-sponsored benefits. Get the full picture of how these applications fit together with our market map.

Download the map
Visualize the employment ecosystem

Thousands of applications make up the employment ecosystem, spanning uses from financial planning to employer-sponsored benefits. Get the full picture of how these applications fit together with our market map.

Download the map
Key Takeaways:
  • On average, 80% of participants default into their retirement plan, demonstrating that the majority of Americans aren’t actively engaged in their retirement planning — and highlighting the opportunity for recordkeepers to engage participants more directly.
  • Recent legislative changes and technological advancements represent a prime opportunity to get more individuals thinking about their financial futures and participating in the savings opportunities available to them.
  • Greater payroll connectivity provides recordkeepers with more comprehensive data, mitigating challenges introduced through file exchanges and arming recordkeepers with the up-to-date information they need to best support sponsors and participants alike.