Tola
Acquired2 known investors
Tola built an all-in-one accounts payable, receivable and cash-flow platform for small businesses; acquired by Square in 2025.
Also known as Tola HQ · tolahq.com
Investors · 2
Company profile
researched Aug 2026Tola was a fintech company that combined accounts payable, accounts receivable and cash-flow management with working capital financing for small and medium-sized businesses. Its platform let business owners pay bills and get paid through multiple methods (credit card, ACH, wire) and choose the timing of payments, including 30- to 90-day "pay later" options available in a single click, under which Tola paid the supplier immediately while the customer settled later in exchange for a fee. Payables and receivables were managed in one place, with integrations to the customer's accounting software and bank to present a consolidated view of finances.
The company was founded in 2022, took part in Y Combinator's Winter 2022 batch, and was based in San Francisco with a team distributed across the Americas and Europe. Y Combinator lists a team size of 12 and Jared Friedman as primary partner. Tola operated the tolahq.com and usetola.com web properties. In 2025 the company was acquired by Square.
Founding story
Co-founders Alen Cvisic and Guillaume Simard were, respectively, the first and sixth employees at the European expense management company Pleo, where they worked with thousands of small businesses and concluded that cash-flow management was those customers' largest pain point. Sequoia knew Cvisic through his work at Pleo and in 2022 invited him to become a Sequoia Scout; the firm stayed in contact as he and Simard developed their founding concept and subsequently led Tola's seed round. Simard describes a career spent building SaaS and fintech products.
Business model
Tola provided a software platform for SMB bill payment and collections, layered with working capital: it paid a customer's supplier instantly and allowed the customer to defer payment for 30 to 90 days in exchange for a fee. Y Combinator's description characterizes the core pay-and-get-paid tool as free to businesses.
Fees charged on deferred ("buy now, pay later") payment of bills, with the underlying payment tool described as free.
Traction
By the October 2024 seed announcement, thousands of businesses had signed up for early access and the platform was processing millions of dollars in payments per month.
Latest developments
A seed round led by Sequoia Capital was announced on October 31, 2024. In 2025 Tola was acquired by Square.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positioned as an all-in-one cash-flow, payables and receivables tool for small businesses, a segment Sequoia describes as large and highly fragmented and therefore under-served by existing providers, with many U.S. B2B payments still made by paper check.
Combining payables, receivables and cash-flow visibility in one product while giving the payer control over payment method and timing, including one-click 30- to 90-day deferral funded by Tola, alongside a founder team with prior SMB fintech distribution experience.
Technology
A single web platform consolidating accounts payable and receivable, supporting card, ACH and wire payment methods with scheduled or deferred timing, and integrating with customers' accounting systems and bank accounts to produce a unified cash-flow view.
Go-to-market
Product-led growth aimed at self-serve adoption by small businesses, an approach the founders had previously built at Pleo and applied to the U.S. market. Early demand was gathered through an early-access sign-up list.
Small and medium-sized businesses and entrepreneurs in the United States that lack a dedicated CFO or finance manager; Sequoia cites a U.S. addressable base of more than 33 million companies.
Geography
Headquartered in San Francisco, selling into the United States, with a team distributed across the Americas and Europe that convened for periodic in-person hackathons the company called "Tolapaloozas."
History
Tola was founded in 2022 and went through Y Combinator's Winter 2022 batch. Sequoia Capital partnered with the company in 2022 and led its seed round, announced on October 31, 2024. In 2025 Tola was acquired by Square.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsSequoia states that Tola was acquired by Square in 2025; Sequoia's company page lists a 2025 "Acquired" milestone and Y Combinator lists the company's status as acquired.
Sequoia announced it led Tola's seed round, having first partnered with the company in 2022; a funding report puts the amount at $10.2 million.
$10.2M source ↗
Tola was part of Y Combinator's Winter 2022 batch, with Jared Friedman as primary partner.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Tola | Sequoia Capitalsequoiacap.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Tola do?
- Tola built an all-in-one accounts payable, receivable and cash-flow platform for small businesses; acquired by Square in 2025.
- Who are Tola's investors?
- Tola's investors include Cherry Ventures, RTP Global.