FloBiz raises 10 million dollar

Digitisation startup for little and medium organizations, FloBiz on Tuesday said it has raised $10 million as a piece of its Series A subsidizing round driven by Elevation Capital. The most recent round additionally saw support from existing financial backers Greenoaks Capital and Beenext.

FloBiz raises 10 million dollar

FloBiz will utilize the assets to develop its charging and bookkeeping application for private ventures, for group extension and item improvement, and to speed up deals and promote endeavours. 

startup's leader item, myBillBook permits private companies to record a few kinds of exchanges including deals, buys and expenses. It likewise assists independent ventures with keeping up their stock, oversees receivables and payables, while building a business outline depicting the benefit and misfortune and deals of a business. 

"Admittance to cell phones and web infiltration with reasonable information plans have prompted a quickly developing interest for computerized apparatuses among little and medium entrepreneurs. We firmly accept that our item myBillBook enables SMBs via computerizing their work processes, keeps up stock better, deals with their receivables and payables just as download basic business reports for speedy and productive dynamic in a hurry," says Rahul Raj, author and CEO at FloBiz. 

Raj adds that with this extra financing FloBiz plans to develop its dealer base 7-times by 2022. Because of the pandemic, the organization professes to have seen more than 3 million dealers taking on to its foundation with more than $6 billion in annualized exchange volume recorded. 

"Digitisation of SMBs is an irreversible pattern and we have been exceptionally dazzled with FloBiz's portable first, base up item drove way to deal with a catch this chance. We accept that Millbrook is working for fundamental, profound use-cases for this section making the item basic to the SMB proprietors," said Mridul Arora, overseeing chief, Elevation Capital 

FloBiz's myBillBook additionally offers coordination with informing administration WhatsApp, which makes it conceivable to share solicitations, business reports with different vendors, bookkeepers and staff individuals. The application is presently accessible in English, Hindi, Gujarati and Tamil.