Collective and Hyphenate secure significant funding for AI finance platforms

Collective, an AI-native financial operating system for solo entrepreneurs, has raised $100 million in new funding. The round includes a $40 million Series B led by General Catalyst, QED Investors, and Gradient Ventures, plus a $60 million growth facility from General Catalyst’s Customer Value Fund. The company intends to use the capital to accelerate product development in banking and insurance to support the growing number of solo businesses.

Separately, Hyphenate, an autonomous finance platform designed for the office of the CFO, announced a $45 million Series A funding round. Led by Nexus Venture Partners, with participation from B Capital and existing investors, the round brings the company’s total funding to $54 million. Hyphenate aims to expand its AI agents deeper into strategic finance functions following reported reductions in repetitive tasks and audit exceptions for its customers.