FloBiz's marquee product, myBillBook, helps small- and medium-sized businesses digitize invoicing, streamline accounting and automate workflows. The app supports English, Hindi, Gujarati and Tamil and has been downloaded more than 5 million times. The startup plans to add support for at least five more regional languages within the next six months and to use AI and image processing to simplify onboarding for less tech‑savvy SMB owners. Management says it will diversify core product offerings and build personalizable modules, and is preparing to roll out financial services. The company is an 18-month-old Indian startup addressing a large SMB market where many neobanks have launched. FloBiz will use the fresh capital to accelerate projects already in development and to expand its product and services roadmap over the next 12 months. FloBiz, operated by Metaloop Innovation Labs Pvt Ltd and led by CEO Rahul Raj, offers a flagship product called myBillBook — a billing and accounting app with WhatsApp integration and multi-lingual support. The company focuses on digitizing SMEs across retailers, distributors, wholesalers, and manufacturers. FloBiz plans to use new capital to expand its team, accelerate product development, and increase sales and marketing efforts. Management has set a target to grow its trader base by at least seven times within the next year. Financially, the startup had previously raised $3 million in a 2019 seed round and is now advancing its growth with a Series A.

Total raised

$41M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2021