TLDR: Light, an AI-native finance platform, has successfully closed a $30 million Series A funding round. Led by Balderton Capital, with participation from Atomico, Cherry, Seedcamp, and Entrée, this investment will fuel the company’s global expansion and its mission to revolutionize financial operations for rapidly scaling businesses. The platform, which rebuilds the general ledger from the ground up with embedded AI, has demonstrated significant efficiency gains, including a 30x growth in the past year and an 84% reduction in finance operations times for its clients.
Light, the innovative AI-native finance platform, announced today the successful completion of a $30 million Series A funding round. This significant capital injection is earmarked to accelerate the company’s global expansion and enhance its cutting-edge artificial intelligence capabilities, specifically tailored to meet the complex financial demands of hypergrowth enterprises. This latest funding brings Light’s total capital raised to $43 million, following a previous $13 million financing round when the company emerged from stealth in June 2024.
The Series A round was spearheaded by Balderton Capital, a prominent venture capital firm, with notable participation from Atomico, Cherry, Seedcamp, and Entrée. The investor roster also includes a distinguished group of angel investors, such as Hugging Face co-founder Thomas Wolf and Meta board member Charles Songhurst, alongside several existing customers who have now become financial backers.
Founded in 2022, Light distinguishes itself in the FinTech landscape by offering an ‘AI-native’ platform, a stark contrast to competitors who often integrate AI as an add-on to existing, decades-old systems. The company’s core innovation lies in rebuilding the general ledger from scratch, embedding artificial intelligence throughout its architecture. This foundational approach enables the platform to evolve and self-optimize, delivering unparalleled speed and accuracy in financial operations.
According to a company statement, Light’s platform can process 280 million records in under a second and generate balance sheets instantaneously. It adeptly manages multi-entity accounting, global payments, and expense management, matching human accuracy. The company has reported remarkable growth over the past 12 months, experiencing a 30x increase. Furthermore, its customers have reported an impressive 84% reduction in their finance operations times after transitioning from legacy enterprise resource planning (ERP) systems to Light’s AI-native solution.
Commenting on the unique approach, Moffat stated, “By rebuilding the general ledger from scratch instead of bolting AI onto legacy systems, they’ve unlocked the full power of AI. The result isn’t just faster, it’s a step-change. This is the financial platform hypergrowth companies have been waiting for.”
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This funding round underscores the growing trend of integrating generative AI into finance, as highlighted by recent industry reports indicating CFOs’ increasing reliance on such technologies for high-impact tasks. Light’s success positions it at the forefront of modernizing financial operations, offering a robust and intelligent alternative to traditional systems struggling to keep pace with the demands of rapidly expanding businesses.
