doola raises $8M led by Nexus Venture Partners

Dollarsformerly known as StartPack, has announced that it has raised $8 million in funding led by Nexus Venture Partners with participation from Y Combinator Continuity Fund and more.

The startup was founded in late 2020 by Arjun Mahadevan and JP Pincheira, based in New York City.

doola helps global entrepreneurs form US LLCs by supporting clients through the incorporation process so they can confidently collect payments, build credibility, stay legal and earn more money. Provides business formation, an EIN, a US address and bank account, access to US payments, tax inquiries, US tax support, a phone number, $50,000 in initial benefits and more.

This new fundraiser comes on the heels of a profitable year and the launch of doola Banking, an affordable way for LLCs around the world to bank and build credit in the US. This sparks a new era for doola , as the company focuses on democratizing access to the US financial ecosystem for everyone.

Speaking about the new development, Arjun Mahadevan, CEO, doola, he said, “doola is not just a training service, we are a fintech company. By providing adjacent financial tools designed to help startups grow more efficiently, doola is the fuel these businesses need. The growth of the doola team will allow us to launch new products and iterate on existing products. We let data, customer feedback and demand drive our product innovation. We are excited about this next stage of growth for our company. Our work at doola is far from complete; we are just beginning. It’s just the tip of the global iceberg for us.”