doola raises $8M led by Nexus Venture Partners

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

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

doola helps global entrepreneurs form US LLCs by supporting customers through the incorporation process so they can confidently collect payments, build credibility, stay legal, and make more money. It provides company formation, an EIN, a US address and bank account, access to US payments, tax consultations, US tax support, a phone number, $50,000 in startup perks, and more.

This new fundraise comes right after a profitable year and the launch of doola Banking —an accessible way for LLCs around the globe 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 all.

Speaking about the new development, Arjun Mahadevan, CEO, doola, said, “doola is not just a formation service - we’re a fintech company. By providing adjacent financial tools designed to help emerging companies grow more efficiently, doola is the fuel these businesses need. Growing doola’s 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 for this next stage of growth for our company. Our work at doola is far from complete; we’re just getting started. It’s just the tip of the global iceberg for us.”