AI agent finance software Fragment said on Wednesday that it has raised a $12 million Series A round. According to ChainCatcher, the financing closed in mid-2025 and was co-led by FirstMark and BoxGroup.

Fragment was founded by Thomas Neckel, with former Robinhood engineer Varun Mohan as co-founder and chief technology officer. The company said developers can plug Fragment into their own software, where the system uses double-entry bookkeeping to track where funds come from and where they go, and confirms accounts are balanced before money moves.

Neckel did not disclose the post-money valuation. Fragment previously raised an $11 million seed round led by Stripe, with participation from BoxGroup, Uber CEO Dara Khosrowshahi and Plaid CEO Zach Perret. The company said it has about 50 to 60 paying customers, including Ramp, BILL and Whop, and uses the product to share transaction records and reduce manual reconciliation.