Diligence memo · auto-generated · as of July 2, 2026
Functional Finance, Inc.
Functional Finance, Inc. looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
Functional Finance, Inc. operates in Other Technology, based in SAN FRANCISCO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Functional Finance, Inc. has raised $21M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $17M on 2024-05-17.
Most recent recorded round closed around 2024-05-17.
Valuation (modeled)modeled
Provath models Functional Finance, Inc. at approximately $133M (range $42M–$243M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.62× the median modeled value of Series B Other Technology companies in 2022–2024 (514 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 22 months.
Last raise 2.1 yr ago; this sector typically re-raises about every 13 months.
Slightly overdue versus sector cadence.
The last round stepped up 4.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 84% of Other Technology peers (21302 compared).
Modeled value ranks above 77% of those peers.
Closest niche peers: Contabilizei Co, Skan, Inc., Design Barn Inc., SKAEL, Inc., Maze.Design, Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.