Collective announced $100 million in financing on October 29, with most of the package structured to fund customer acquisition for its solo-business finance service. It combines a $40 million Series B with a $60 million growth facility from General Catalyst’s Customer Value Fund.
General Catalyst, QED Investors and Gradient Ventures led the Series B. The separate facility will be repaid from revenue generated by the customers it helps acquire, The Next Web reported. Collective said the financing will also support development of banking and insurance products.
Collective sells memberships that handle bookkeeping, company formation and tax filing for self-employed owners. Its S corporation service includes payroll, so owners can pay themselves a salary and manage the associated business records through the same provider.
The company previously announced a $50 million round in July 2023 to expand its use of AI. In April 2026, it acquired Open Ledger, which built accounting infrastructure for financial products.
Collective had already launched an Insurance Center in July, partnering with Coverdash for business coverage and Solo Health for health coverage. In that announcement, it said members’ health premiums would automatically flow into payroll and tax calculations.