The round includes a $40 million Series B led by General Catalyst, QED Investors, and Gradient Ventures, along with Intuit Ventures, FT Partners, and SemperVirens, alongside a $60 million growth facility from General Catalyst's Customer Value Fund to fuel customer acquisition. The funding will also be used to accelerate Collective's product development in banking and insurance.

Collective is the AI-native financial operating system for Businesses-of-One. Built from the ground up to do financial work, Collective brings together accounting, bookkeeping, payroll, tax, and financial services in one connected platform, giving self-employed entrepreneurs the capabilities of a corporate finance department without having to build one.