fbpx

CashFlo raises Rs 70 Cr from General Catalyst and Elevation

Finance automation and payments platform CashFlo has raised Rs 70 crore (nearly $9 million) led by General Catalyst with participation from existing investor, Elevation Capital. Angels in this round include Jitendra Gupta , Amrish Rau, Nitin Gupta, Rangarajan K (FiveStar), Gokul Rajaram and Whiteboard Capital among others.

This is the second fundraise for the Mumbai-based startup. Elevation had previously invested in CashFlo’s maiden fundraise in 2019.

The funds will be used to expand market leadership in India’s enterprise segment and invest in core products and technology, it said in a press release.

Founded in 2018 by Ankur Bhageria and Dushyant Agarwal, CashFlo helps vendors to access affordable short-term capital while it enables corporates to optimize working capital flow and increase topline by managing their supply chain’s finances efficiently. It works with corporates like Tata Group, Haldia Petrochemicals, Aditya Birla Group, Vedanta, Arvind Limited among others.

The company competes with a clutch of fintech and non-banking financial corporations which focus on providing working capital requirements. CashFlo’s broader peers include Indifi, M1xchange, Lendingkart, Incred and others. On Tuesday, another supply chain financing company – FinAGG Technologies also raised $3 million in its  pre- Series A round.

CashFlo seems to be an intriguing startup with inspiring development on financial services platform. Best wishes for the new startup business venture. I know that the team worked incredibly hard on it. I wish them great success in the future!

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For Editorial/Rectification please email aditi@startuplanes.com

Tags

top