Intuit Expands the Small Business Group by Including the Proper Finance Team Members

Proper Finance is a provider of financial data platforms and tools. Proper Finance has sold its intellectual property (IP) and hired talent to Intuit.

The team members will work with Intuit’s Small Business and Self-Employed Group (SBSEG) Money and FinTech teams, contributing to the company’s efforts to “accelerate innovation,” as stated in a blog post published on Monday, March 11.

According to James Barrese, senior vice president of FinTech at Intuit, “Proper Finance brings deep expertise that will help us accelerate our ability to address this opportunity across the $188 billion total addressable market for Small Business and Self-Employed Group.”

According to the release, Intuit’s Money portfolio consists of integrated tools, knowledgeable services, and insights that speed up the flow of money and give small businesses sophisticated money management capabilities.

According to the release, the members of the Proper Finance team will apply their knowledge of digital banking, payments, money movement, financial operations, and infrastructure to their new roles in the Money teams.

According to the press release, co-founder and CEO of Proper Finance Kyle Maloney stated that the company was established in 2021 with the goal of “empowering every company with modern tools for financial data integrity.”

The company declared that its integrated reconciliation and ledger data platform enabled FinTechs to manage their financial data and uphold total financial accuracy when it announced the closing of its seed round in June 2022.

“Joining Intuit will bring us closer to our goal of improving the health of the financial ecosystem,” Maloney said in the Monday press release. “Together with Intuit, we will expand the impact of our expertise to help companies move and track money accurately and efficiently.”

Another recent event was the February release by Intuit of a new financial tool designed specifically for one-person enterprises. These business owners can better manage their money, set objectives, and get ready for taxes with the help of the new QuickBooks Solopreneur. On iOS and Android devices, it works with the QuickBooks mobile app.

Intending to simplify the tax preparation and filing process for individuals and small businesses, Intuit integrated TurboTax into two of its other products, Credit Karma and QuickBooks, in January. The filer’s financial and personal information that is already in Credit Karma or QuickBooks is combined with the tax knowledge engine of TurboTax through the new integrations.