Fintech startup CredFlow has raised $3.7 million (around Rs 31.2 crore) in a pre-Series B funding round co-led by two of its existing investors, Inflexor Ventures and a family office based in Singapore.
Prior to this, the Delhi-based company had raised $9.2 million in two rounds from leading venture capital funds.
The proceeds will be allocated to optimize and expand its financial services and lending verticals, as well as enhance its technology and innovation capabilities, CredFlow said in a press release.
Launched in 2020 by Kunal Aggarwal, CredFlow is a Cash Flow Management SaaS solution that aims to address all aspects of cash flow management and financial growth process in small and medium organizations. The platform enables SMEs to leverage technology to unlock more working capital by helping them better manage their finances with timely insights through a dashboard of customer pending amounts, sending payment reminders regular invoice validation and negotiation of discounts for early payments.
According to CredFlow, it offers robust financial management by integrating directly with the company’s Tally or Busy ERP, which, in turn, provides business owners with real-time analytics and in-depth insights into their operations . Using its application, businesses can reduce their working capital cycles, forecast future cash flows, and make smarter business decisions. Additionally, it bridges the gaps between formal sector and MSME lending, making the lending process smoother for SMEs.
CredFlow claims to have helped over 1.5 lakh SMEs across India overcome their cash flow challenges, while onboarding $600 billion worth of invoices on its flagship platform and capturing nearly 50% of Indian GST businesses on the network. Earlier this year, the startup launched an innovative credit scoring app called KuberX, which has already crossed 25,000 monthly active users (MAUs) and is expected to multiply its MAUs to at least 10 by the end of 2025.
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