In a pre-Series B funding round, CredFlow, a fintech startup, raised $3.7 million (roughly Rs 31.2 crore) with the help of two of its current investors, Inflexor Ventures and a Singaporean family office.
This comes after the Delhi-based company raised $9.2 million from well-known venture capital funds in two rounds.
According to a press release from CredFlow, the money raised will be used to scale and optimize its lending and financial services verticals as well as enhance its technological and innovative capabilities.
CredFlow is a SaaS-based cash flow management solution that was introduced by Kunal Aggarwal in 2020 with the goal of addressing every facet of the financial growth and cash flow management process in small and medium-sized businesses. Through timely insights via a dashboard of pending amounts from customers, regular payment reminders, invoice validation, and negotiating discounts for early payments, the platform helps SMEs manage their finances more effectively and unlock more working capital.
CredFlow claims that by integrating directly with the company’s Tally or Busy ERP, it offers strong financial management and gives business owners deep insights into their operations as well as real-time analytics. Businesses can anticipate future cash flows, shorten working capital cycles, and make more informed business decisions by utilizing its app. It also closes the gaps between MSMEs and formal sector lending, which facilitates a smoother lending process for SMBs.
In addition to integrating $600 billion worth of invoices onto its flagship platform and bringing nearly 50% of India’s GST businesses online, CredFlow claims to have assisted over 1.5 lakh SMEs in India in resolving their cash flow problems. The startup introduced KuberX, a cutting-edge credit scoring app, earlier this year. It has already surpassed 25K monthly active users (MAUs) and is expected to increase its MAUs by at least 10 times by the end of 2025.
