French startup Indy has secured $44 million in a recent funding round led by BlackFin Capital Partners. Originally an automated accounting platform for freelancers, Indy has evolved into an all-encompassing solution covering accounting, company creation, tax preparation, invoicing, and upcoming business banking services. The funding round, which raised the company’s valuation to $352 million, saw participation from La Maison, iXO, and existing investors, including Singularity Growth Opportunities Fund I and fashion designer Masaba Gupta.
Indy’s automated accounting tool, a core feature, allows users to synchronize bank accounts, categorize transactions, and add receipts for tax purposes. While the accounting tools are free, users pay a monthly subscription for tax-related services. The platform’s success lies in its product bundling strategy, offering a suite of administrative and finance tools for freelancers. The company plans to introduce a free business bank account with a payment card in the coming months, aiming to streamline financial management for its user base.
Despite competitors in the business banking sector like Qonto and Shine, Indy focuses on serving the self-employed, emphasizing simplicity in banking needs. Looking beyond, the company intends to explore European markets, leveraging its successful model tailored for the vast self-employed population in France.
That’s fantastic news! Indy is making waves in the AI industry. They have recently secured an impressive ₹3.7 crore in funding and are becoming a major player in the tech world. Sending my best wishes to the Indy team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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