OneCFO CEO Jay Olos (L) and COO Limuel Cornejo (R) with Joel Tan-Torres
OneCFO, an AI-powered financial management service platform in the Philippines, has raised US$500,000 in pre-seed funding from undisclosed angel investors.
The investment will be used to develop its suite of B2B financial management apps and hire people.
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The startup has also appointed Joel L. Tan-Torres (JLT), former Chairman of the Philippine Board of Accountancy (BOA) and former Commissioner of the Bureau of Internal Revenue (BIR), to its Board of Directors.
OneCFO aims to provide CFO technology and expertise to small and medium enterprises (SMEs), startups, and scaleups in the Philippines. It has integrated cloud accounting systems, ERPs, payroll software, business intelligence, and other software into one platform.
Launched in 2022, the platform automates routine tasks and offers real-time finance insights that enable businesses to make data-driven decisions. It empowers accountants to shift from transactional roles to strategic advisors, helping businesses navigate complex financial landscapes.
In less than two years of operations, OneCFO claims to have served around 80 client engagements, processed millions of transactions and helped a dozen SMEs and startups get funded.
Its notable clients include SolX, NextPay, Kwik.insure, Toki, Advance, Colourette, OneLot, LabLog, JLabs, and AIQUE Innovation.
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It also partnered with local accounting-tech and niche ERP systems, such as Beppo, Britana, Stash PH, startup accelerators, VC firms, banks, and non-bank financial institutions.
“Bootstrapped in the beginning, we started everything manually – doing things that don’t scale which gave us tons of learnings and best understanding of the pain points of both SME owners and their accountants in this country. We’ve been profitable since our sixth month of operations and been reinvesting our profits to develop the platform. This pre-seed funding will definitely speed-up our development”, said OneCFO’s founder and CEO Jay Olos.
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