CashFlo, a finance automation and payments platform, on Tuesday, raised approximately ₹70 crore in its second round of funding led by General Catalyst. Investors including existing Elevation Capital also participated in the latest round. CashFlo plans to utilise the fresh capital in products and technology, among others.
Through the fresh funding, the company plans to grow its product lines for the CFO function, invest in core technology, and expand its category leadership in the vendor financing automation market in the country.
Ankur Bhageria, CEO at CashFlo said, “Over the past three years, we have heavily invested in our product and technology capabilities to constantly stay ahead of the market. Today we are head and shoulders above the competition in terms of product and execution capabilities,” reported PTI.
CashFlo has expanded its base with over 50 supply chains, with a network of over 2,00,000 Tier-1 and Tier-2 suppliers and dealers. Additionally, in the last year, the company recorded over 800% growth in its flagship offering on dynamic discounting and vendor financing automation.
CashFlo was founded in 2018.
CashFlo is India’s first platform that caters to the holistic needs of a modern Corporate Finance function optimising its working capital & treasury returns, while also delivering better control, reduced risk, and better productivity. Its client base is more than 50 Indian leading corporates across over 10 sectors and over 20 financiers.
Its network is more than 3 lakh small businesses and growing exponentially.
