# Functional Finance funding: rounds and investors

> Functional Finance has raised $20M across 1 round since 2024. Investors include New Enterprise Associates, Gold House Ventures and Munich Re Ventures.

Source: https://millionrounds.com/company/functional-finance (Millionrounds; every figure on the page links to its filing or article)

United States · [Series A startup](https://millionrounds.com/companies)

# Who invested in *Functional Finance*

One round we have observed, with the 3 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Financial Services

Funding summary Updated 26 Oct 2026

**$20M** raised across 1 round since 2024, from 1 source

- **Latest round:** Series A, $20M May 2024
- **Investors:** 3

See who backed them

## The rounds

- **May 2024** Series A **$20M** [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) [Gold House Ventures](https://millionrounds.com/fund/gold-house) [Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures) Source recorded SEC filing: $17M sold, first sale May 2024

## Founders and team

From Functional Finance's own website and the SEC filings it signed: 1 founder, 4 on the team.

**Rashmi Melgiri** Co-Founder & CEO *Named on its 2024 Form D*

- **Jim Ermilio** President
- **Linda Briscoe** Chief Customer Officer
- **Anthony DeGangi** Executive Officer, Director i
- **James Ermilio** Executive Officer i

On the board, as filed i *Joshua Diamond*

## Everyone who backed them

[New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) VC firm **1** round

[Gold House Ventures](https://millionrounds.com/fund/gold-house) Accelerator **1** round

[Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures) Corporate VC **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=functional-finance).

## Quick answers about Functional Finance

### Who invested in Functional Finance?

Functional Finance's investors include New Enterprise Associates, Gold House Ventures and Munich Re Ventures.

### How much has Functional Finance raised?

Functional Finance has raised $20M across 1 round since 2024.

### When did Functional Finance last raise?

Functional Finance's most recent round was a Series A of $20M in May 2024.

### What was Functional Finance's biggest round?

Its most recent round, $20M in May 2024, is also its largest on record.

### Who backed Functional Finance first?

Functional Finance's first round on record, in May 2024, was backed by New Enterprise Associates, Gold House Ventures and Munich Re Ventures.

### What stage is Functional Finance at?

Functional Finance's latest named round is a Series A, in May 2024.

### Where is Functional Finance based?

Functional Finance is based in the United States.

## Companies like Functional Finance

In the same sector, and raised in the last eighteen months.

[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**CapitalOS** $52M · Oct 2026](https://millionrounds.com/company/capitalos)[**Platform Accounting Group** $355M · Oct 2026](https://millionrounds.com/company/platform-accounting-group)[**Ramp** $4.5B · Oct 2026](https://millionrounds.com/company/ramp)

## Find investors like these

Search every investor by what they have actually funded, then narrow to your stage and market. Free.

Open the investor searchOr these rounds in the app