Daloopa Secures $18 Million to Enhance AI-Powered Financial Data Services
Daloopa recently closed an $18 million Series B funding round aimed at advancing its AI-driven financial data platform. The fresh capital will support efforts to improve the accuracy and speed of fundamental data used by financial institutions and facilitate expansion into Asian and European markets.
CEO Thomas Li highlighted the challenges of traditional data discovery processes, which rely heavily on manual work prone to errors and inefficiencies. Daloopa's AI infrastructure streamlines these tasks, freeing analysts to focus on deeper financial insights. Key investors in this round include Touring Capital, Morgan Stanley, and Nexus Venture Partners.
The financial sector continues to adopt AI technologies beyond large firms. Small and medium-sized businesses (SMBs) are leveraging AI to automate accounting functions such as bookkeeping, payroll, and reporting. For instance, Intuit recently introduced AI agents capable of managing routine accounting duties, reducing manual workload.
Experts note that automating basic tasks allows accountants to concentrate on higher-value activities, including strategic advising and complex financial decision-making. According to Ariege Misherghi, senior VP at Bill, this shift enhances the value accountants provide to SMBs.
Lisa Huang of Xero emphasizes that many accounting systems remain manual despite rising demands and regulatory pressures. The industry is at a critical point where automation can relieve overworked professionals and improve service quality.
U.S. Household Debt Hits $18.39 Trillion Amid Rising Borrowing and Financial Strain
Household debt in the U.S. climbed by $185 billion in the second quarter of 2025, reaching a record $18.39 trillion. Mortgage balances accounted for the largest increase, rising $131 billion to $12.94 trillion. Auto loan originations also increased significantly, hitting $188 billion from $166 billion in the prior quarter.
Credit card balances grew by $27 billion, while lenders expanded credit limits by $78 billion, signaling continued optimism in consumer lending despite mounting risks.
Financial strain is apparent as student loan delinquencies surged following the end of payment pauses. The share of seriously delinquent student debt rose sharply to 12.9% from 0.8% a year ago. More than two million borrowers experienced significant drops in credit scores, which could reduce consumer spending by an estimated $63 billion annually.
Mortgage and home equity loan delinquencies also ticked upward but remain relatively low historically. However, rising mortgage costs have pushed 70% of households earning over $100,000 into living paycheck to paycheck, signaling a decline in financial stability even among higher earners.
Younger consumers are increasingly turning to alternative credit options like Buy Now, Pay Later (BNPL). Among Generation Z and younger millennials, 58% now prefer BNPL over traditional credit cards, influencing shopping behaviors with 43% selecting merchants based on installment plan availability.
Financial pressures are widespread, with 69% of Gen Z living paycheck to paycheck and one in three adults facing surprise expenses annually. These patterns highlight ongoing shifts in consumer credit demands and risks, particularly for younger and middle-income groups.
For finance professionals interested in AI applications in accounting and financial data, exploring specialized courses can provide valuable skills. Consider visiting Complete AI Training’s finance AI tools page for relevant resources.
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