The 20 and 22 -year -old Affiniti founders raised $ 17 million, led by SignalFire, just 6 months after a seed of $ 11 million

Affiniti founder Aaron Bay, 20 years old, and Phalans, 22, builds a kind of expense management software for small companies in the main streets that startups for technology has enjoyed for years.

Their growth was so impressive that after six months of collecting a $ 11 million seed tour, they raised a $ 17 million chain, led by Signal Fire, they told Techcrunch exclusively.

Affiniti Small and medium -sized companies such as pharmacies, HVAC companies, and customer -made car Identists offer credit cards and programs similar to the type of leading utensils By Brex and slope.

But traditional small companies already have credit card options such as America Express and Capital One as well as traditional banks. Why do they choose Affiniti?

Because, as Pay says, start starting what he calls “V3” from Fintech. In his opinion, V.1 is traditional banks and credit cards. It represents Brex and RAMP V2, which has brought the improved UX design and better access to the financial statements resulting from expenditures.

“V3, in our opinion, it is the Fintech product that can already advise the final users and give them analyzes,” says Pay. “These traditional small companies do not have a financing team.”

The cash in the series A will help the starting starting features such as banking services, payment of bills, cash flow analyzes and integration with more programs such as planning for institutions resources and points of sale.

It currently provides features such as custom cash decline bonuses, the original Quickbooks files “QBO”-not only CSV-and short-term loans, up to 90 days, for bills.

Interestingly, unlike many founders of their twenties, Affiniti did not come from the start -up school like Y Combinator. The founders said they had not had to. They met during the attendance of the University of California in Berkeley, which helped them form a solid network in Silicon Valley to provide introductions to VCS and others. They said they also reached a marketing step on their own, partnership with specific commercial groups, just as independent pharmacies.

This not only helps in checking the start of the startup to potential customers, but gave them immediate access to features such as group purchase discounts. “In fact, we do not try to boil the ocean when it comes to working with every SMB in America,” Vadins said. “We choose a couple of specialized columns with a complex cash flow.”

Fadnis said that all of this was working well enough until Affiniti went, during the first 14 months, from zero to 1,800 customers and about 20 million dollars per month in the volume of transactions. The founders believe that the platform is on the right path to $ 1 billion transactions by the end of the year.

Since the startup company earns most of its money on transactions exchange fees-although it also sells the Saas program, and gains interest income on these short-term loans-and this means rapid growth in revenue.

Although the founders will not reveal their current revenues, PHADNIS has offered a hint for you: the revenues have grown about 10x per year. “12 months ago, we were one million dollars. So 10x is a lot,” he said.

The Yahya Mokhtarzada (founder of Truebill), Austin RIEF (Mourning Brew) says other investors in the chain A includes the contradictory capital of Codie Sanchez, and Yahya Mokhtarzada (founder of Truebill), and Austin Reef (the founder of Mooring Brew).

The projects of the seed and lighting projects indicators and the RiverPark projects also participated. She said that Affiniti had previously signed a $ 15 million debt facility, capable of growing to $ 50 million, with the previous seeds tour.