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§ Private Profile · San Francisco, CA, USA
Reconciliation and financial operations platform
Proper has raised $55.7M across 8 funding rounds.
Key people at Proper.
Proper was founded in 2021 by Kyle Maloney (Founder) and Travis Gibson (Founder).
Proper has raised $55.7M in total across 8 funding rounds.
Proper provides software & APIs to help companies manage their payments data across providers. We connect banks, API providers, and networks in a single platform and provide automated reconciliation and accounting, so companies can maintain financial accuracy at scale.
Our integrated financial operating system gives companies a unified back-office data platform across their services and providers. With Proper, companies can spend less time on low-level financial system infrastructure and more time focused on building for their end-users.
Proper has raised $55.7M across 8 funding rounds. Most recently, it raised $19.0M Series B in March 2023.
Key people at Proper.
Proper is a financial data platform and core operating system for fintech that automates reconciliation and financial operations, enabling companies to manage payments and money movement efficiently. It provides modular APIs including a core ledger, unified financial data platform, and financial operations tools for reconciliation, compliance, and accounting. Proper serves fintechs, banks, and internet companies by simplifying complex payment data management, ensuring financial accuracy, and allowing clients to focus on building their products rather than low-level infrastructure[1][2].
For an investment firm, Proper’s mission would align with accelerating fintech innovation by providing foundational financial infrastructure that reduces operational complexity. Its investment philosophy likely emphasizes backing companies that solve critical pain points in financial operations and payments. Key sectors include fintech, banking infrastructure, and payments technology. Proper impacts the startup ecosystem by enabling faster, more reliable financial product development and reducing the barrier to entry for fintech startups needing robust reconciliation and compliance tools.
For a portfolio company, Proper builds a financial operations platform that automates transaction reconciliation and monitoring across multiple payment providers and networks. It serves fintech companies, banks, and internet businesses that require accurate, real-time financial data aggregation and reconciliation. Proper solves the problem of fragmented payment data and manual reconciliation processes, which are error-prone and resource-intensive. The platform’s growth momentum is driven by its ability to integrate with multiple banks and payment providers, offering fast onboarding and flexible, scalable reconciliation solutions[1][2].
Proper was founded to address the fundamental challenges fintechs face in managing complex payment data and ensuring financial accuracy. While the exact founding year and founders are not specified in the search results, the company has evolved to become a core infrastructure provider for financial operations, focusing on automated reconciliation and unified financial data management. Its evolution reflects a shift from manual, spreadsheet-based reconciliation to a fully automated, API-driven platform that supports high-volume transaction matching and compliance[1][2].
Proper rides the growing trend of fintech infrastructure modernization, where companies seek to automate and unify financial operations to scale efficiently. The timing is critical as digital payments and fintech adoption accelerate globally, increasing the volume and complexity of financial transactions. Market forces such as regulatory compliance demands, the proliferation of payment providers, and the need for real-time financial data visibility favor platforms like Proper. By providing foundational reconciliation and financial data infrastructure, Proper influences the broader ecosystem by enabling fintech startups and banks to innovate faster while maintaining operational integrity[1][2].
Proper’s future likely involves expanding its platform capabilities to cover more complex financial workflows and deeper integrations with global payment networks. Trends shaping its journey include increased demand for automation in financial operations, AI-driven anomaly detection in payments, and growing regulatory scrutiny requiring robust compliance tools. Proper’s influence may evolve from a backend infrastructure provider to a critical enabler of fintech innovation, helping companies reduce operational costs and risks while accelerating product development. This positions Proper as a key player in the ongoing transformation of financial services infrastructure[1][2].
Proper was founded in 2021 by Kyle Maloney (Founder) and Travis Gibson (Founder).
Proper has raised $55.7M in total across 8 funding rounds.
Proper's investors include 14Peaks Capital, 2150, Bling Capital, byFounders, Casa Verde Capital, Expa, Iterative, Locus Ventures, MetaProp Ventures, QED Investors, Ameet Ranadive, Balaji Srinivasan.
