Funding News

Fintech startups Vyapar and CashFlo Raise Series A Funding

Vyapar Tech, a Fintech startup which offers billing software for SMEs, has secured $5 Mn (nearly Rs 36 crore) from Indiamart. Existing investors Axilor Venture and India quotient also pumped capital in the funding round.

B2B Fintech startups Vyapar and CashFlo secure funding…Image source: kalhh from Pixabay

Started in 2016, Vyapar offers free business accounting software that has been especially tailor made for SMEs and small businesses. The company claims that its mobile app spares small business owners from the inconvenience of manual entries and complicated calculations. The company claims that even today nearly 70% of small business owners do their entire accounting work on paper and therefore the market opportunity is huge.

Vyapar currently offers app for android phones as well software for desktop computers.

Meanwhile, another B2B Fintech startup CashFlo raised $3.3 million in series A round. SAIF Partners and clutch of independent angel investors spearheaded the funding round. The Mumbai headquartered startup will utilize the funds for business expansion, ramping up its platform and talent acquisition.

CashFlo claims to be India’s first integrated, multi-funder marketplace that creates win-win situation for both buyers as well as sellers. The platform aids sellers to undertake Invoice discounting through their exchange and get early payment to cater to their working capital requirements. Buyers, on other hand, stand the chance of improving their EBITDA margin and also improve their working capital by offering early payment.

CashFlo currently offers services to SMEs spread across nearly 30 cities. Following the latest round, the company may expand across more cities in the coming months.

Today several B2B Fintech startups are working hard to leverage the under-leveraged SMEs and small business sector. Investors are also steadily warming up to such startups with the hope that the under-penetrated markets of SMEs will fetch them good returns in the future. The rapidly growing penetration of smart-phone and the app-ecosystem becoming mainstream thing have also certainly made investors upbeat about such startups.

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