Intuit Ventures

Announcing our Investment in Finch

Intuit Ventures announces an investment in Finch, the #1 API for employment systems. With the investment, Finch will continue to build deeper integrations with the Intuit QuickBooks ecosystem to serve developers and our joint customers.

Written by Adam Coccari
Published Jun 7, 2023
2 min read

As the leading payroll provider for small and medium businesses (SMBs), Intuit knows how valuable payroll data is to them. However, the payroll ecosystem is highly fragmented. The top 10 payroll providers cover only 55% of the market, and there are close to 6,000 total payroll providers. On top of that, most of these systems run on legacy software stacks that don’t easily share data. Companies who need data from these systems—such as 401k/benefits providers or HR tools—must rely on individual integrations and manual data transfers with every payroll system their customers use. Maintaining integration of these systems leads to high setup and maintenance costs, lost revenue potential, and a poor developer and end-user experience.

When the Intuit Ventures team met co-founders Jeremy and Ansel at Finch, we knew they were building something special to solve this problem that our partners and portfolio companies are experiencing. Finch’s solution is a universal API that allows companies to connect to over 200 employment and payroll systems through a single integration. The end-users (employers) of these products are then able to provide permission to share their data between systems so the products that they love work together seamlessly. We were instantly impressed by the team’s domain knowledge and experience building developer-focused products, along with the company’s traction, efficiency, and compelling future vision.

Today, companies like Carta, Mainstreet, Mosaic, and Lane Health are using Finch to streamline benefits administration, improve employee onboarding, automatically detect tax credits, and manage compliance for their customers. And this is just the beginning, as Finch plans to use the funding to add additional capabilities to their API and build new products on top of their data platform.

Through our investment in Finch, we are helping to enable an ecosystem of software partners and benefits providers serving our customers’ needs. We’re excited to be part of their journey and look forward to collaborating with Finch as they build deeper integrations with the Intuit QuickBooks platform.

Adam Coccari is the Managing Director of Intuit Ventures, Intuit’s Venture Capital team responsible for overseeing Intuit’s investment in startups around the world. Prior to Intuit, Adam spent 8 years at Microsoft where he was most recently a Partner at M12 – Microsoft’s Venture Fund.