Ambrook has raised $29m in a funding round led by Thrive Capital and Dylan Field at Field Ventures, to build the financial infrastructure for US industry, starting with agriculture.
The company provides accounting, payments and cash management for independent business, with a focus on the family-run small and medium-sized Enterprises (SMEs) that make up the backbone of the economy.
With the funding, the company wants to accelerate the rollout of advanced financial workflows connecting it to more of the tools and services SMEs already use, and develop its own AI-native architecture.
Between 2019 and 2023 the number of US households that believe their children will be worse off than themselves rose from 24% to 42%, Ambook’s CEO, Mackenzie Burnett, said it is grassroots American dynamism that can turn this around, helping to make SMEs more profitable and resilient.