Roehl Niño Bautista · · 1 min readSequoia leads Thai SaaS firm FlowAccount’s $4m series A round
Thai accounting platform FlowAccount raised US$4 million in a series A round led by Sequoia Capital India, with investments from Money Forward and SBI Investment.
Founded in 2015, the online invoicing firm offers cloud-based bilingual business solutions to help freelancers, small-business owners, and accountants in Thailand manage their accounting, payroll, and expense tasks on a single platform.
FlowAccount said there are currently 50,000 customers who use the platform’s services, which are integrated with banks and ecommerce platforms.
FlowAccount team / Photo credit: FlowAccount
The fresh capital will go toward expanding the platform’s functionality while scaling its small-business solutions.
“Now we will grow beyond the field of accounting into the areas of payments, ecommerce, and fintech. Our vision is to become the go-to, seamless solution for anyone starting a new business in Thailand and beyond,” said Kridsada Chutinaton, CEO and co-founder of FlowAccount.
According to a Tech Wire Asia report, Thai businesses are expected to ramp up expenditure on public cloud services in 2021, after spending US$652.5 million in 2020 in the sector.
FlowAccount anticipates it will gain more users due to pandemic-fueled digital transformation efforts. It also plans to underscore how its services fit Thailand’s regulatory processes compared to foreign options.
Editing by Miguel Cordon and Arpit Nayak
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