Fintech startup Fundflo raises seed funding from Ashish Kacholia of Lucky Investments
- ByStartupStory | July 22, 2022
Fundflo Technologies, a fintech SaaS platform has received an undisclosed amount of seed funding from Ashish Kacholia of Lucky Investments. The company will be able to invest in new technology and develop new products with the help of fundraising.
Rattan Chugh, the co-founder of Fundflo Technologies said, “The $3.3 billion global market for account receivable automation is expanding at a rate of more than 14% yearly. Despite the pandemic accelerating demand for digital solutions that enable employees to work remotely, address increased pressure on working capital, and produce cost savings from operational efficiencies in India, which is still largely underpenetrated.”
Rajesh Patil, the co-founder of Fundflo Technologies stated, “The technology currently makes it possible for payments to be presented and recognised electronically. The company’s capital raise will be used primarily to establish new technological products in industries such as account payable automation, data analytics, lending, and cash forecasting. Plans exist to use artificial intelligence to make decisions that are more informed.”
Ashish Kacholia, the founder of Lucky Investments, said”Business cashflows are impacted by inefficiencies in the invoice-to-cash process, and Fundflo is addressing a significant issue. SaaS businesses offer a compelling business strategy that generates substantial corporate value and has a direct route to profitability.”
About Fundflo
Rattan Chugh and Rajesh Patil founded Fundflo Technologies in 2021 with the goal of transforming the working capital cycle of companies by digitising the ecosystem of the B2B supply chain, which includes suppliers, manufacturers, distributors, and lenders. The platform handles a variety of issues for the CFO offices of manufacturing and trading companies.
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