Hello Alice, a financial technology that serves over 1.5 million small business owners in the US, has closed a Series C funding round with QED Investors, Mastercard and others, bringing the company’s total valuation to $130m.

The new financing round saw participation from Backstage Capital, Guy Fieri, Golden Seeds, How Women Invest I, LP, Harbert Growth Partners Fund, Lovell Limited Partnership, Tyler “Ninja” and Jessica Blevins, and Tamera Mowry and Adam Housley.

It will help Hello Alice expand its capital offerings and AI-driven financial health solutions for small enterprises.

Hello Alice provides access to credit, loans, grants, and business planning services to small business owners, enterprise customers, and hundreds of business networks across the US.

The company, led by Elizabeth Gore, Carolyn Rodz, and Kelsey Ruger, said its enterprise SaaS solution provides banks and business services engagement and data analytics tools that offer transactions for their SMB customers.

Hello Alice said the latest funding round will support the expansion of its AI-driven financial health services and small business funding centre.

The centre links owners with the capital they require to expand their small businesses, and the company’s Equitable Access to Capital programme, a commitment to ensure that all small companies have access to the capital they need to cultivate sustainable enterprises.

Hello Alice co-founders Elizabeth Gore and Carolyn Rodz said: “We are thrilled to hit the milestone of 1.5 million small businesses utilising Hello Alice to elevate the American dream. There are more entrepreneurs launching this year than in the history of our country, and we will continue to ensure they get the capital needed to grow.

“In closing our Series C, we welcome Mastercard to our family of investors and continue to be grateful to QED, How Women Invest, and our advocates such as Guy Fieri.”

QED Investors co-founder Frank Rotman said: “Our team focuses on finding and investing in companies that are obsessed with reducing friction and providing superior financial services solutions to their customers.

“Hello Alice has proven time and time again that they are on the leading edge of providing equitable access to capital and banking services to the small business ecosystem. We’re thrilled that they’re now serving 1.5MM small businesses and show no signs of slowing down.”

Mastercard’s North America small business lead Ginger Siegel said: “With Hello Alice, we’re investing to provide support to small business owners as they look to access capital, helping to address one of the most cited business challenges they face.

“By working together to simplify access to the products and services they need when building and growing their business, we’re helping make a meaningful impact on the individuals who run their businesses, the customers they serve, and our communities and economy at large.”