SME-focused fintech startup CredFlow secures .7 Mn

Fintech startup CredFlow has raised $3.7 million (about Rs 31.2 crore) in a pre-Series B funding round co-led by two of its existing investors, Inflexor Ventures and a Singapore-based family office.

Prior to this, the Delhi-based company had raised $9.2 million across two rounds from prominent VC funds.

The proceeds will be allocated towards optimizing and scaling its financial services and lending verticals, as well as improving its tech and innovation capabilities, CredFlow said in a press release.

Launched in 2020 by Kunal Aggarwal, CredFlow is a SaaS-based cash flow management solution that aims to address every single aspect of the cash flow management and financial growth process in small and medium-sized organizations. The platform enables SMEs to leverage technology to unlock more working capital by helping them manage their finances better through timely insights via a dashboard of pending amounts from customers, sending regular payment reminders, validating invoices, and negotiating discounts for early payments.

According to CredFlow, it offers robust financial management by directly integrating with the business’s Tally or Busy ERP, which, in turn, provides business owners with real-time analytics and deep insights into their operations. By using its app, businesses can reduce their working capital cycles, foresee future cash flows, and drive smarter business decisions. Additionally, it bridges the gaps between formal sector lending and MSMEs, making the lending process more seamless for SMBs.

CredFlow claims to have helped over 1.5 lakh SMEs across India overcome their cash flow issues, while integrating $600 billion worth of invoices onto its flagship platform and capturing nearly 50% of India’s GST businesses onto the network. Earlier this year, the startup launched an innovative credit scoring app called KuberX, which has already crossed 25K monthly active users (MAUs) and is set to grow its MAUs to at least 10x by the end of 2025.

Advertisment

By Entrackr : Latest Posts

Source: Entrackr : Latest Posts