Cashflo, a Mumbai-based SME-lending marketplace and invoice discounting startup, is planning to boost its business, enhance the platform, and increase the team to 75 employees in the next two years. The company has said that it will be able to achieve the objectives as it has raised $3.3million as a part of its Series-A round from SAIF Partners.
“This investment from SAIF Partners is a validation of the market opportunity and a testament to the hard work gone in to build this business so far. We are excited to partner with SAIF and be able to leverage their expertise and know-how, especially in financial services, in this next phase of growth. This round gives us the necessary fuel to become one of India’s leading supply chain financing platforms in the years to come, said the company’s Co-founder & CEO Ankur Bhageria.
According to Bhageria, the company’s focus is on solving day-to-day problems encountered by small businesses. Cashflo has tied up with corporate, to be able to finance supply chains of dealers and distributors. The company is also working with many corporates in the auto, pharma, textiles, retail, logistics, and services, capital goods segments. It has footprints in 30 cities including top seven metros in the country.