CredFlow is a New Delhi-based fintech startup that offers cashflow management solutions leveraging technology to build customized credit solutions and automate receivable collections. The company announced on Wednesday that it has raised $2.1 million in its seed round led by Stellaris Venture Partners, Omidyar Network India, and Flourish Ventures. Participation from marquee angel investors such as Nitin Gupta, Founder of Uni, was also seen.
According to an official statement, the fintech startup will employ the funds to improve its platform, boost its tech capabilities, and create new products. The startup is also planning to grow its team across tech, product, and marketing.
Founded by Kunal Aggarwal in 2020, CredFlow offers a cashflow management SaaS platform, which supports SMEs to handle their finances by using a dashboard of due amounts by customers, giving timely payment reminders, verifying invoices, and negotiating discounts for early payment.
Speaking about the development, Kunal said in a statement, “Delayed collection is a major challenge that Indian SMEs face and capital stuck in receivables is a leading cause for financial stress. Much of fintech innovation in the past decade has been focused either on large enterprises or retailers and micro-enterprises, while the mid-market B2B segment remains largely unaddressed. We’re excited to partner with Omidyar Network India, Stellaris Venture Partners, and Flourish Ventures in helping us leverage technology to realize this mission of making Indian SMEs truly Aatmanirbhar.”
The startup claims that over 5,000 businesses have used CredFlow to process and sync invoices worth more than Rs 70,000 crore to date.
The startup disclosed that it intends to create a full-stack solution, including cash flow-based financing, treasury management, and payments management, to help SMEs optimize their cashflows and boost their growth.
Commenting on the investment, Treasa Mathew, Director at Omidyar Network India, said that CredFlow’s focused solutions can help enhance the financial health of SMEs and boost their growth.
“CredFlow’s payment dashboard commands the attention of the business owner and becomes the primary daily MIS for the business. In the long run, this will help CredFlow become the financial operating system for SMBs, providing a view on their overall financial health, and helping them access a diverse set of own and third-party financial products,” said Ritesh Banglani, Partner at Stellaris Venture Partners.
CredFlow is empowering several small businesses to manage their finances with their services. The company is looking at immense growth opportunities in the industry.Shishir Gupta, Founder and CEO, StartupLanes
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.
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 publishing an advertorial article about your company on our website, drop an email at firstname.lastname@example.org