Fact Base raises $28.8 million to accelerate global expansion of manufacturing software

Moffett AI, a Shenzhen-based developer of artificial intelligence inference chips, announced on November 3rd the completion of raising nearly 1 billion yuan in a Series C+ funding round.

This new funding round followed a previous raise of nearly 1 billion yuan approximately five months ago.

The raised funds will be used to upgrade their sparse computing inference chips, conduct research into next-generation processors, and collaborate with industry partners and research institutes. Sparse computing technology allows for a reduction in the computational volume required for AI model operation by utilizing sparsity in data and operations.

Moffett AI reported that it has deployed inference clusters in four regions of China and entered into partnerships with telecommunications operators. Their next-generation accelerator card, SP200, is expected to be available by the end of this year.

San Francisco-based startup Collective has raised $100 million to develop its financial services designed for individual entrepreneurs. The platform integrates various business functions, including accounting, payroll, tax reporting, and other services.

The funding includes a $40 million Series B round, as well as $60 million from General Catalyst's Customer Value Fund. General Catalyst, QED Investors, and Gradient Ventures led the equity round; Intuit Ventures, FT Partners, and SemperVirens also participated.

Collective's founder is Hooman Radfar, who learned about the financial benefits of business tax planning through his family. Reports indicate that his father's business structure helped him save significantly more on self-employment taxes than his mother's.

The $60 million comes from General Catalyst's Customer Value Fund. Unlike traditional equity financing, this arrangement supports client acquisition through a revenue-based repayment model. Thus, the total funding package reached $100 million.

The company has not disclosed its current valuation or the specific repayment terms for the customer acquisition mechanism. General Catalyst has used similar mechanisms to support other companies in the financial and business software sectors, but the specific terms of the Collective agreement have not been made public.

A separate $40 million Series B round provides traditional equity financing for broader company expansion. Collectively, these funds support both product development and customer base growth. General Catalyst partner Pranav Singhvi noted that small businesses represent a significant opportunity and expects AI adoption to accelerate growth in this market.

Previously, Collective raised $8.65 million in a seed round in 2020, followed by $20 million in a Series A round in 2021, and $50 million in July 2023. The market potential is assessed as substantial.

Collective serves individual entrepreneurs, independent consultants, and freelancers. The company's comprehensive membership provides business registration, bookkeeping, invoicing, payroll, and tax filing. Collective members are also offered health and business insurance.

In July 2026, the company launched its Insurance Center in partnership with Coverdash and Solo Health. In April 2026, Collective acquired the AI bookkeeping startup Open Ledger. The new funding will help expand these offerings into the banking sector and add additional insurance products.

Collective reports 127% year-over-year business growth and cumulative tax savings of $350 million for its members. According to the company, its most profitable clients save up to $40,000 annually. However, the company has not disclosed revenue or customer numbers, so these figures remain metrics provided by the company itself. The company estimates that over 30 million businesses in the United States have no employees, and AI tools can help a larger number of independent founders manage complex financial operations without hiring specialized teams.

Collective faces competition from financial platforms serving independent workers and small businesses, notably Lettuce Financial. The market has also experienced turbulence, including the sudden closure of Bench in December 2024. Other AI bookkeeping startups target audit firms and corporate finance teams, which differs from Collective's approach focused on the needs of individual entrepreneurs. Collective's strategy is to automate more workflows within a single integrated platform, potentially reducing the need for separate tools for accounting, taxation, and insurance. Radfar believes that AI can enhance the efficiency of independent founders, and the next phase of the company will focus on testing its integrated financial platform's ability to deliver on this promise at scale.

Coast has secured $35 million in new equity funding to scale its financial platform designed for companies operating in the 'physical economy.' Thomvest Ventures led the funding round.

Existing investors participated in the round, including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The Fintech Fund. The New York-based fintech company announced plans to use the capital to grow its customer base.

The funds will be directed towards developing AI-driven expense automation, as well as expanding Bill Pay and Accounts Payable offerings. These steps support Coast's goal of becoming a more comprehensive financial operating system.

Founder and CEO Daniel Simon noted that many service-sector businesses still lack financial tools tailored to their specific operations. Companies in the physical economy often manage expenses related to employees, job sites, suppliers, and vehicles, but standard banking products and corporate cards rarely provide the necessary level of control for such transactions.

Furthermore, there is a growing need for skilled tradespeople. For instance, data shows that HVAC engineer vacancies have increased by nearly 78% since 2022, and demand for electricians, welders, and construction specialists has risen by 30%. Coast initially started by issuing fuel cards for business parks.

Over time, the company expanded its services to include corporate cards, expense management, and supplier payments. Its platform serves industries such as construction, HVAC, plumbing, landscaping, pest control, solar energy, oil and gas, utilities, and others, and it can integrate with accounting systems.

The new funding will be used for investments in AI-powered expense automation. Coast will also expand its Bill Pay and Accounts Payable features to collect supplier invoices concurrently with card transactions, giving business owners a more complete view of expenses.

Financial teams will be able to use a single platform to manage employee expenses, supplier invoices, and accounting processes. Coast collaborates with companies providing fleet and field service management technologies. Through integrations with Samsara and Fleetio, operators can track vehicle locations, driver IDs, and odometer readings. This data helps identify unusual purchases; for example, the system can flag fuel transactions that do not match the vehicle's location. Operators can also deactivate cards without leaving the existing fleet management software, and the company directs drivers toward more efficient purchasing options.

This latest funding allows Coast to extend its offering beyond just fuel and parking payments. The planned products aim to consolidate procurement, supplier payments, expense control, and accounting workflows. The company did not disclose its valuation in the announcement.

Participation from Intuit Ventures may also help strengthen ties with financial software used by small businesses. Coast's integration strategy focuses on embedding within existing operational systems rather than requiring customers to replace them. Competition remains a significant challenge. While Coast's focus on field operations gives it a clear market, sustained growth will depend on the adoption and execution of its plans. The newest funding will help determine the pace of customer base expansion and delivery of planned products.