Image default

SaaS startup Growfin raises $7.5M in a Series A round led by SWC Capital

Chennai and San Francisco-based accounts receivable (AR) automation startup Growfin has raised $7.5 million in a Series A funding round led by SWC Global, with participation from existing investors 3one4 Capital and angel investors.

Prior to the current round, the startup raised $1.4 million in a seed funding round in March 2022 from 3one4 Capital. So far, it has raised around $8.9 million in its funding rounds.

It intends to use the raised capital for its technology stack and expand its product offerings this year and evolve into an “all-in-one integrated cash solution”, and improve its product’s predictive artificial intelligence (AI) capabilities.

Founded in 2020 by ex-Freshworks alumni Raja Jayaraman and Aravind Gopalan, Growfin is an accounts receivable automation software that helps enterprises accelerate cash collections and makes cash flows more predictable by giving real-time visibility into receivables.

The startup claims to have seen 8X growth in number of customers in the last 12 months, and has collected $1 billion in account receivables.

Also Read:

Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.

Source link

Related posts

Climate tech and health tech edition

Sarah Villa

Jobber closes $100 million USD Series D amid strong demand for home services

Sarah Villa

The Challenges of returning to Work From Office

Sarah Villa

Financing Platform Klub Invests In NOTO Ice Cream, Papacream, Others

Sarah Villa

Zomato co-founder Mohit Gupta resigns; pens a heartfelt farewell note

Sarah Villa

Character.AI Looking For Fresh Capital — Report

Sarah Villa

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More