Layer secures USD 2.3 million in pre-seed investment

In a bid to provide an improved user experience, Layer delivers Embedded Accounting services to customers, such as Square and Toast, that collaborate with SMEs to offer accounting and bookkeeping capabilities inside their products. The company allows larger firms to integrate its tools into their platform for SMEs to leverage. Business owners can access bookkeeping and accounting tools inside Square or Toast platforms they utilise to administer their operations, instead of a separate software for managing finances.

Since its inception, the firm’s objective has been to develop a set of APIs that enables platform customers to pass data from their SME customers directly to Layer. Following this, Layer offers connections to external bank accounts and credit cards to pull in the data and flow it into its ledger and account system, with SMEs receiving the ability to build a full picture of their financial data.

Furthermore, Layer is committed to meeting the demands and requirements of customers, with the company aiming to deliver a unified solution that enables them to do their accounting directly within the platform they utilise instead of using separate tools. Representatives from Layer underlined that the current funding is set to support the company in growing its customer base substantially and scaling its revenue over the course of 2024.