inDinero shifted from a self-service personal-finance approach to an all-in-one accounting, taxes and payroll offering built on proprietary software. The company combines technology with human service, describing its model as "accounting-plus-service" and serving as a single provider so customers need not piece together multiple vendors. It targets more complex small businesses (clients can range from one or two employees up to about 100 employees) and charges enterprise-style fees—"thousands of dollars, if not tens of thousands." The relaunch followed a period when the company nearly ran out of money and laid off staff. Management says the business is service-oriented but sees similar margins to SaaS, and reported being "pretty close to cash-flow positive" with periods of profitability last year. inDinero has raised outside capital but retained investor non-control terms that leave the team room to seek growth equity later. inDinero offers financial management and small-business banking services positioned as "like a Mint for QuickBooks." The company was founded by Andy Su and Jessica Mah. It completed a $1.2 million seed round after initially targeting $500K, drawing significantly more interest than expected. The raise was conducted without institutional backers and was funded by a syndicate of twenty angel investors. Named angels in the syndicate include Intuit’s David Wu, Slide’s Keith Rabois, Yelp’s Jeremy Stoppelman, Microsoft’s Fritz Lanman, 500Startups’ Dave McClure, YouTube’s Christina Brodbeck, Stanford’s Steve Blank and YouTube’s Jawed Karim. The article does not disclose operating metrics or detailed future product plans.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2015