Credflow raises $2.1 million in seed funding led by Stellaris Venture Partners and others

MUMBAI: firm Credflow has raised $2.1 million (Rs 15.2 crore) in seed funding led by Stellaris Venture Partners, Omidyar Network India and Flourish Ventures. The company will be investing in platform development, strengthening tech capabilities and building new products as it focuses on expanding its customer base. The SME cash flow management firm is also looking to expand its team across tech, product and marketing.

Credflow is a cashflow management SaaS platform that helps SMEs manage their finances by providing a dashboard of pending amounts by customer, sending timely payment reminders, validating invoices and negotiating discounts for early payment, with the aim to reduce the businesses’ working capital cycles by 25-30%. Since its launch in May 2020, over 5000 businesses have used Credflow to process and sync invoices worth more than Rs. 70,000 crore (~$10billion). CredFlow’s vision is to build a full stack solution including cashflow based financing, treasury management and payments management to help SMEs optimise their cashflows and accelerate their growth.

Kunal Aggarwal – Founder, Credflow said in a statement, “Delayed collections is a major challenge that Indian SMEs face and capital stuck in receivables is a leading cause for financial stress. Indian SMEs, particularly traditional manufacturing and distribution businesses in the B2B supply chain are still using archaic, offline processes to manage their receivables and payables. We’re excited to partner with Omidyar Network India, Stellaris Venture Partners and Flourish Ventures in helping us leverage technology to realise this mission of making Indian SMEs truly Aatmanirbhar.”

Treasa Mathew, Director, Omidyar Network India, said in a statement, “For the past two decades, average debtor days for Indian SMEs has consistently exceeded 90 days. While the sector has begun digitising and formalising rapidly, cashflow management remains a chronic pain point. We believe that CredFlow’s focused solutions will significantly improve the financial health of SMEs and accelerate their growth by empowering SME business owners with cutting-edge digital tools and analytics to manage cashflows efficiently.”

READ  UPDATE 1-General Electric in $49 mln settlement over Petters fraud

Marquee angel investors like Nitin Gupta (Founder of also participated in the round.



Please enter your comment!
Please enter your name here