Tola

Services

Tola offers a range of financial services targeting small and medium-sized businesses (SMBs). Key services include bill payment and receivables management, cash flow optimization, and working capital solutions. Companies using Tola can manage accounts payable and receivable through a simple tool that facilitates payments via bank transfers (ACH), checks, and card payments. Additional functionalities like the Pay Later feature allow qualified businesses to defer payments for larger bills, and the Get Paid Early feature, currently being rolled out, lets selected companies receive early payments.

Products

Tola provides different subscription plans - Starter, Basic, and Pro - to cater to varying business needs. The Starter plan offers free payments for bank transfers and checks, with a nominal transaction fee for card payments. It supports up to 5 transactions per month. The Basic and Pro plans incorporate advanced features such as increased collaboration capabilities, external accountant access, automation tools, approval workflows, and integration with popular accounting software like QuickBooks and Xero. These plans are designed to support growing businesses with more complex financial management needs.

History

Tola is a fintech company founded in the winter batch of Y-Combinator 2022 (W22). Focused on simplifying payment processes and cash flow management for SMBs, Tola has positioned itself in the payments sub-industry within the broader fintech sector. With operations based in San Francisco, CA, and New York, NY, and offering remote work options, Tola has built a diverse and distributed team of 12 members. The company is targeting regions including the United States, America/Canada, and fully remote areas.

Banking Partnerships

Tola's banking services are provided in partnership with Blue Ridge Bank, N.A, a member of the FDIC. This partnership ensures that deposits made through Tola are FDIC-insured, providing an added layer of security for users. Blue Ridge Bank's involvement reinforces the reliability and trustworthiness of Tola's financial operations, aligning with industry standards for banking and insurance.