CashFlo raises $8.7 million in funding

7 Sep 2022 , 01:07 PM

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.

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