← Embedded Finance Index 2026

Odoo

Can Odoo become the unified financial and operational OS for SMBs globally by embedding payments, cards, tax, and banking directly into its open-source ERP?

Founded2005
HQGrand Rosière, Belgium
FoundersFabien Pinckaers
Total raised$617M+
Latest roundSecondary, November 2024
Valuation$5.26B post-money (2024)
IndustryHorizontal SaaS / Accounting
The story

Originally launched in 2005 as TinyERP, Odoo rebranded twice — first as OpenERP (2009), then as Odoo (2014) — as it expanded from core ERP into a full suite covering CRM, eCommerce, accounting, POS, and HR. Rather than pursue primary capital, the company grew primarily on product-led and partner-led motion, raising only via secondaries. The most significant recent expansion is into embedded finance: native Stripe Issuing expense cards, built-in Avalara/AvaTax tax compliance, and Stripe Treasury integration bring Odoo from a pure-software ERP toward a financial operating system for SMBs.

Last 12 months
2024-11
2025-07
2025-09
Product timeline
2005
Initial release as TinyERP, an open-source ERP for SMEs.· pivot
2009
Rebranded to OpenERP, expanding suite beyond basic ERP to include CRM and accounting.· pivot
2014
Rebranded to Odoo; launched app store ecosystem and modular architecture.· pivot
2019
Raised $90M secondary led by Summit Partners to accelerate SMB partner network growth.· acquisition
2022
Launched single per-user subscription pricing model, simplifying enterprise packaging.· pivot
2024
Raised $527M secondary at $5.26B valuation led by CapitalG and Sequoia; surpassed 5M users.· banking
2025
Added native Stripe Issuing-powered expense cards for employee spend management in Odoo 19.· card
The stack
7 layers disclosed in Odoo’s embedded-finance stack
Payments / PSP
StripeAdyenCheckout.com
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
10 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.