SaaS based fintech platform Fundflo Technologies has raised undisclosed amount in its seed funding round from Ashish Kacholia of Lucky Investments.
The startup plans to use the funds in new technologies and come up with new offerings.
The Pune-based Fundflo Technologies was founded in 2021 by Rattan Chugh and Rajesh Patil, Its platform solves a variety of problems for the CFO office of manufacturing and trading businesses.
These problems include a manual and error-prone ‘order to cash’ process, poor forecasting of cash flow and lack of access to credit for distributors and suppliers.
“The $3.3 billion global market for account receivable automation is expanding at a rate of more than 14% yearly. Despite the pandemic accelerating demand for digital solutions that enable employees to work remotely, address increased pressure on working capital, and produce cost savings from operational efficiencies in India, which is still largely underpenetrated”, said, Rattan Chugh, co-founder of Fundflo Technologies.
Since its inception, the startup has configured over 6000 distributors, collected 860 crores receivables and over 4 lakh trade documents.
The startup’s vision to transform the working capital cycle of businesses by digitizing the B2B supply chain ecosystem into Supplier, Manufacturer, Distributor and Lender.
“The technology currently makes it possible for payments to be presented and recognised electronically. The company’s capital raise will be used primarily to establish new technological products in industries such as account payable automation, data analytics, lending, and cash forecasting. Plans exist to use artificial intelligence to make decisions that are more informed”, said, Rajesh Patil, co-founder of Fundflo Technologies.
”Business cashflows are impacted by inefficiencies in the invoice-to-cash process, and Fundflo is addressing a significant issue. SaaS businesses offer a compelling business strategy that generates substantial corporate value and has a direct route to profitability”, said, Ashish Kacholia, founder of Lucky Investments.
About Fundflo Technologies
Fundflo Technologies is established with a vision to transform the working capital cycle of businesses. They offer an automated, simple and AI driven platform for Supply Chain Invoice Presentment, Payments, Financing and Real-time reconciliation. They are onboarding lenders on their platform to enable analytics-driven credit decisioning to offer credit to SMEs in a fast and efficient manner.
Fundflo Technologies is a fintech startup that is aiming to transform the working capital cycle of businesses by digitizing the B2B supply chain ecosystem across Suppliers, Manufacturers, Distributors, and Lender.