General Catalyst was the round’s lead investor, bringing in $8.7 million for CashFlo, an Indian business focused on financial automation.
Angel investors and current backer Elevation Capital, which invested in CashFlo in 2019, were among the additional investors in the round.
Ankur Bhageria and Dushyant Agarwal, two former Boston Consulting Group executives, founded CashFlo in 2018. The company aids organizations in automating their cash flow management and fundamental financial procedures.
“Over the past three years, we have heavily invested in our product and technology capabilities to constantly stay ahead of the market and bring a differentiated value proposition to our clients,” said Bhageria.
The firm claims that over the past year, the number of its customers has increased by 800% and that it has broadened its network to cover over 50 significant supply chains, including those of Tata Group, ITC, Lupin, and Delhivery.
The most recent round of funding will be used by CashFlo to extend its product portfolio, make investments in core technologies, and strengthen its position as the market leader in India’s vendor finance automation industry.
