Samreen Ahmad · · 1 min readElevation Capital reinvests in India-based finance automation firm
CashFlo, an India-based finance automation startup, has raised US$8.7 million in a round led by General Catalyst.
Photo credit: CashFlo
Several other investors participated in the round, including angel investors and existing backer Elevation Capital, which invested in CashFlo in 2019.
Founded in 2018 by former Boston Consulting Group executives Ankur Bhageria and Dushyant Agarwal, CashFlo helps businesses automate their core finance processes and manage their cash flows.
“Over the past three years, we have heavily invested in our product and technology capabilities to constantly stay ahead of the market and bring a differentiated value proposition to our clients,” said Bhageria.
According to the company, its customer base has grown 800% over the past year, and it has expanded its network to over 50 large supply chains, which include those of Tata Group, ITC, Lupin, and Delhivery.
CashFlo will use the recent round of funding to grow its product lines, invest in core technology, and expand its category leadership in the vendor financing automation market in India.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Editing by Deepti Sri and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
