Collective has secured $100 million to pursue more customers and add banking and insurance products, expanding a platform for solo businesses amid a U.S. count of nearly 32 million nonemployer establishments.
The company announced the financing Thursday. General Catalyst, QED Investors and Gradient Ventures led its $40 million Series B, joined by Intuit Ventures, FT Partners and SemperVirens. A separate $60 million growth facility came from General Catalyst’s Customer Value Fund, Collective said.
Collective plans to put the funds toward customer acquisition and product development in banking and insurance. Its platform brings together business setup, bookkeeping, invoicing, payroll, tax preparation and insurance services. The company describes its software as AI-native and presents it as a way for solo operators to manage financial work without a dedicated finance department.
Collective says its annual recurring revenue is growing 120% year over year. It estimates that members have saved $350 million in taxes overall and says its highest-income customers save up to $40,000 a year.
The Census Bureau recorded 31,985,874 nonemployer establishments in 2024. Its count covers businesses without paid employees that are subject to federal income tax and generally have at least $1,000 in receipts; the threshold is $1 for construction. Sole proprietorships account for most of the group, which also includes partnerships and corporations.
A separate Stripe Economics proxy tracks about 115 solopreneur-focused platforms and all solo Stripe Atlas businesses. Within that index, the 2025 number of solopreneurs above $1 million in revenue was more than double the 2023 count; the counts above $5 million and $10 million were each close to three times as high. Stripe says the proxy can include businesses that are not one-person operations, as well as businesses that hired employees after starting solo.
Separately, Stripe compares a recent rise in U.S. business applications with a 2020 spike that it says Paycheck Protection Program incentives helped drive. The company says there is no similar federal subsidy behind the current acceleration.
