Fintech · New York
Ledgerly
Treasury software for companies holding cash in six currencies.
- Stage
- Series A
- Founded
- Founded 2020
- First invested
- We invested 2021
- Team
- 59 people
- Board
- Board seat
- Total raised
- $18M
- Current stage
- Series A
- Team
- 59
- Founded
- 2020
What they build
The product, in plain terms
Ledgerly builds treasury software for companies holding cash in six currencies. The company started in New York in 2020. We backed it at seed and have worked with the team through Series A.
- 01
Ledger infrastructure a finance team can reconcile without exporting anything to a spreadsheet.
- 02
Direct connections to the banks and processors that matter in each market, maintained in house rather than resold.
- 03
Controls, audit trails, and approvals designed with a controller in the room, not bolted on after the first enterprise deal.
Where it stands
Numbers the team watches
Reported by the company at its most recent board meeting. We publish what founders are comfortable publishing and nothing more.
- Annualised volume
- $12M
- Reconciliation accuracy
- 86%
- Median settlement
- 4 weeks
Why we invested
The note from the first meeting
“We met Ledgerly in 2021, back when the product had to be correct before it was impressive, which slowed everyone else down. What convinced us was not the deck. It was that they answered every hard question with a number and admitted the two they could not answer yet.”
- Rebuilt pricing twice and doubled contract value both times.
- Opened a second market within a year of its seed round.
- Reached default-alive economics before raising a priced round.
Founders
Who is building it
Both founders were in the room the day we wrote the check, and both still run the company.
Marcus Petrova
Co-founder and CEO
Spent six years as a customer of the tools they now compete with.
Sofia Cohen
Co-founder and CTO
Ran the team that owned this problem inside a company large enough to feel it properly.
Timeline
How it has gone
The version we would give another investor, including the years where nothing looked like progress.
- 2020
Founded
Marcus Petrova and Sofia Cohen start Ledgerly in New York around a single wedge: treasury software for companies holding cash in six currencies.
- 2021
We invested
We wrote the seed check and took a board seat. Amara Okafor has worked with the team ever since.
- 2022
Paid customers
Contracts replaced pilots, and the company stopped selling a roadmap and started selling a product.
- 2023
Series A round
Raised at $110M, led by an investor we introduced during diligence. We took our full pro rata.
- 2026
Where it stands
59 people, selling in more markets than it started in, still run by the two people who wrote the first version.
Alongside us
Co-investors
We share rounds with people we would want on our own cap table.
- Bessemer
- Index Ventures
- Costanoa
- Craft Ventures
Working here
Open roles
Ledgerly is hiring in these areas. Mention us and the note gets to the founders directly.
- Payments engineering
- Compliance
- Bank partnerships
Building something next to Ledgerly?
We are usually early to a category and happy to be early again. Send us the short version.