Layer
Also a provider — view Layer’s profile →“Can an embedded accounting API become the default general ledger for every vertical SaaS platform that serves SMBs, displacing QuickBooks at the platform layer?”
Founded2023
HQSan Francisco, CA
FoundersJustin Meretab, Daniel O'Neel
Total raised$8.9M
Latest roundSeed, 2025
IndustryInfrastructure / Embedded Accounting
The story
Layer was founded in 2023 by former Square Banking product lead Justin Meretab to bring embedded accounting to vertical SaaS and SMB fintech platforms — filling the gap left as embedded payments/payroll matured but SMBs still relied on standalone QuickBooks. Its wedge is providing white-labeled bookkeeping and general ledger infrastructure that platforms like Moxie, Nav, and Dripos embed inside their own products. The company is explicitly positioned as a QuickBooks replacement rather than a connector, though it still offers QuickBooks OAuth for migration.
Product timeline
2023
Layer founded in San Francisco by ex-Square Banking product leader Justin Meretab and Daniel O'Neel· pivot
2024
Raised $2.3M pre-seed to build embedded accounting for SMB software platforms (positioned as QuickBooks replacement)· funding
2025
Raised $6.6M seed led by Emergence Capital; onboarded 30,000+ SMBs through platform partners including Moxie, Nav, Dripos, Duet, Carry· funding
2026
Announced integration with Unit to sync embedded finance transactions directly into Layer's accounting· banking
The stack
6 layers disclosed in Layer’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Ledger
in the full report
Payroll
in the full report
Open banking
in the full report
Accounting
in the full report
Accounting gap: none
9 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.