Collective Valuation, Funding & Investors
Collective is valued at $100M as of May 2021.
Last Collective valuation
$100M
Series A · May 2021
Last Collective funding round
$71M
Undisclosed stage · Jun 2025
Cumulative funding Collective raised
$150M
across 4 funding rounds
Key investors in Collective
General Catalyst
QED Investors
Gradient
Expa
Better Tomorrow Ventures
The General Partnership
About Collective
Collective is a San Francisco-headquartered financial platform for freelancers and self-employed professionals, handling business formation, bookkeeping, tax filing, and compliance across all 50 US states. It serves over 200,000 members with automated invoicing, expense tracking, and quarterly tax estimates, integrating with QuickBooks and Stripe. The platform offers 24/7 advisor support via chat and phone, plus access to a community forum for networking. Founded in 2019, Collective has raised over $140 million in funding and expanded to include S-corp formation services, processing $1 billion in member payments annually.
Founded
2020
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$100M (May 2021)
Collective Valuation
Collective is currently valued at $100M, based on its Series A in May 2021.
The $20M round was led by General Catalyst.
Collective valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2021 | Series A | $100M |
Collective Funding History
Collective has raised a total of $150M across 4 funding rounds.
Collective's first fundraising round was a $9M seed round in September 2020. The most recent completed round was a $71M undisclosed-stage round in June 2025.
Collective funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Undisclosed stage | - | $71M | - | Collective is a fintech company that has raised a total of $149.69M across 6 funding rounds, with the latest being a Series C round of $70.99M on June 13, 2025. Earlier rounds include a Series B of $50M on July 11, 2023, led by investors such as Better Tomorrow Ventures, Expa, General Catalyst, Gradient Ventures, Innovius Capital, QED Investors, and The General Partnership. The company has 31 investors in total. |
| Jul 2023 | Undisclosed stage | Better Tomorrow Ventures (lead); Expa (lead); General Catalyst (lead); Gradient (lead); Innovius Capital (lead); QED Investors; e squared; The General Partnership | $50M | - | - |
| May 2021 | Series A | General Catalyst (lead) | $20M | $100M | Collective is an all-in-one back office platform providing bookkeeping, payroll, tax advice, and financial services tailored for self-employed individuals, freelancers, and businesses-of-one, helping them manage paperwork and focus on their core activities. The company serves the growing $1.2 trillion business-of-one industry, which is expanding three times faster than the traditional workforce. Collective positions itself amid the passion economy and creator boom, targeting freelancers resilient during economic downturns like the 2008 recession and COVID-19. In May 2021, Collective raised $20 million in a Series A round led by General Catalyst, with participation from Sound Ventures and other investors including Expa, Gradient Ventures, and notable angels, bringing total funding to $28.65 million. This funding came shortly after seed financing of $8.65 million, enabling Collective to scale operations, expand its team, and meet demand from a waitlist exceeding 20,000 people. General Catalyst highlighted Collective's role in supporting underserved entrepreneurs with time- and cost-saving tools. Subsequent rounds included a $50 million extension in 2023 led by multiple investors including General Catalyst, pushing total raised over $78 million, focused on product development and hiring to 200+ employees. |
| Sep 2020 | Seed | General Catalyst (lead); QED Investors (lead) | $9M | - | Collective is a San Francisco-based fintech startup providing an all-in-one online back-office platform for self-employed individuals, known as 'businesses-of-one,' offering services for accounting, tax, bookkeeping, business formation, and community support. The platform addresses administrative burdens for the 59 million self-employed U.S. workers, who spend about 30 days annually on tasks like project management and bookkeeping. Collective launched in September 2020 by serial entrepreneurs Hooman Radfar, Ugur Kaner, and Bugra Akcay. On September 29, 2020, Collective raised $8.65 million in its first institutional funding round, led by General Catalyst and QED Investors, with participation from Gradient Ventures, Expa, and nine individual investors including Mike Garrett Camp and Jared Hecht. The funding supports product launch, technology development, new products, and community features amid pandemic-driven growth in self-employment. Membership, priced at $199 per month, grew four times since 2019, with members saving an average of $16,000 last year on services like S corp formation, software, and accounting. Collective targets the $1.2 trillion business-of-one industry, projecting over 50% of the workforce by 2027. Subsequent rounds included a $20 million Series A in May 2021 led by General Catalyst with Sound Ventures, Expa, QED, and Gradient, bringing total funding to $28.65 million, and a $50 million Series B in July 2023, reaching $82 million total raised. |
Who has invested in Collective?
8 investors have backed Collective across its funding rounds, including General Catalyst, QED Investors, Gradient, Expa, Better Tomorrow Ventures and The General Partnership.
Lead investors include Better Tomorrow Ventures, Expa, General Catalyst, Gradient, Innovius Capital and 1 other investor.
Collective Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Sep 2020 | |
| Alexandria, VA | 2 | Lead | Sep 2020 | |
| San Francisco, CA | 1 | Lead | Jul 2023 | |
| San Francisco, CA | 1 | Participant | Jul 2023 | |
| San Francisco, CA | 1 | Lead | Jul 2023 | |
| San Francisco, CA | 1 | Participant | Jul 2023 | |
This data is available for Pro users. Sign up to see all 8 Collective investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Collective
Collective has acquired 1 company to date.
Last acquisition by Collective was on April 21st 2026. Collective acquired Open Ledger for undisclosed valuation.
Latest Acquisitions by Collective
| Description | Open Ledger is a San Francisco-based software company that embeds automated accounting into small business products. Its tools automate bookkeeping, invoicing, reconciliation, and financial reporting directly within e-commerce, SaaS, and service platforms. Open Ledger integrates with payment gateways and ERP systems to provide real-time ledger management without manual data entry. The platform targets fintechs and marketplaces enabling seamless financial operations for merchants and vendors. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 21 Apr 2026 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Collective acquisitions and their M&A valuation multiples. Start Free Trial | |
Collective Competitors
Collective competitors include listed companies like Miroku Jyoho Service and Arab Sea, and private ones like Ember, Sleek, Fondo and OnlinePajak.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 London | Private | - | - | $80M | - | |
 Singapore | Private | - | - | $150M | - | |
| San Francisco, CA | Private | $6M | - | $66M | 11.0x | |
 Indonesia | Private | - | - | $174M | - | |
 Japan | Publicly listed | $315M | $58M | $396M | 1.1x | |
 Saudi Arabia | Publicly listed | $14M | ($608K) | $97M | - |
Collective Public Comps
Collective is still privately-owned, but its public comps include Arab Sea, Banqup Group, Serko, Link Bilgisayar, WebCash, Talenom, Fast Accounting co, AutoCount, Kelly Partners Group and Chanjet Info Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $14M | ($608K) | 7.9x | - | (183.4x) | - | |||
| $59M | ($14M) | 2.5x | 2.2x | (10.9x) | (29.0x) | |||
| $69M | $35K | 0.9x | 0.8x | 1748.8x | 14.9x | |||
| $29M | $11M | 2.3x | - | 5.9x | - | |||
| $54M | $14M | 0.9x | 0.8x | 3.3x | 3.9x | |||
| $126M | $31M | 1.2x | 1.2x | 4.9x | 5.6x | |||
| $15M | $3M | 3.5x | 2.8x | 18.2x | - | |||
| $18M | $11M | 2.7x | - | 4.6x | - | |||
This data is available for Pro users. Sign up to see all Collective competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Collective
| When was Collective founded? | Collective was founded in 2020. |
| Where is Collective headquartered? | Collective is headquartered in San Francisco, CA, United States. |
| Is Collective publicly listed? | No, Collective is a private, VC-backed company. |
| What is Collective's valuation? | Collective was last valued at $100M in its Series A in May 2021. |
| How much funding has Collective raised? | Collective has raised $150M across 4 funding rounds. |
| What was Collective's last funding round? | Collective's last funding round was a $71M undisclosed-stage round in June 2025. |
| Who are Collective's investors? | Collective's investors include General Catalyst, QED Investors, Better Tomorrow Ventures, e squared, Expa, The General Partnership, Gradient and Innovius Capital. |
| Which companies are comparable to Collective? | Companies comparable to Collective include Ember, Sleek, Fondo, OnlinePajak, Miroku Jyoho Service and Arab Sea. |
| How many companies has Collective acquired? | Collective has acquired 1 company, including Open Ledger. |
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