Dealflow | November 17, 2021

ZenBusiness raises $200 million to scale support for micro-entrepreneurs

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 17 — Austin-based public benefit corporation ZenBusiness, which has helped more than 200,000 U.S. micro-entrepreneurs start their businesses, is bringing on billionaire Mark Cuban as an advisor and spokesperson.

“As a serial entrepreneur, I understand the challenges that come with launching and running your own business,” said Cuban.

The new financing, which values ZenBusiness at $1.7 billion, was led by Oak HC/FT, a women-led healthcare and fintech investment firm. SoftBank Vision Fund 2, Cathay Innovation and Greycroft.

Financial services

The company will use the financing to help users send invoices, connect to their bank accounts and categorize expenses.

Since ZenBusiness acquired small business fintech Joust last year, it has hired 10 refugees and plans to hire as many as 100, according to Amplio Ventures, an early investor in Joust.