CashFlo has raised $8.7 million (about Rs70 crore) as part of its second round of capital raising, which was spearheaded by General Catalyst.
Elevation Capital, an existing investor, took part in the fundraising. Famous angels like Jitendra Gupta from Jupiter, Amrish Rau from Pine Labs, Nitin Gupta from Uni, and Atrium Angels all took part.
Elevation had already contributed to CashFlo's initial 2019 fundraising effort.
CashFlo, a company founded in 2018, assists corporations and enterprises in automating their fundamental financial procedures and improving cash flow management. The organization also runs a marketplace for invoice discounting that enables small and medium-sized businesses (SMEs) to get working capital against their past-due invoices.
Invoices of Rs1,250 crore were discounted by the company last month. But every month, 35%—60% of these invoices are given loans by suppliers.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.