SAIF Partners leads Rs 29 Cr Series A round in CashFlo

Working capital solutions provider CashFlo has raised a Series A funding round worth Rs 29 crore which was led by SAIF Partners. 

The equity financing round was joined by Arpan Sheth, who handles Bain India’s Private Equity practise and ex Boston Consultancy Group MD Ashish Iyer, who runs early-stage Venture Capital firm Mistry Ventures among others.

The bill discounting company is in the midst of expansion and will be using the proceeds from the series A round to expand its scope in India and increase its workforce. 

The Mumbai based firm was founded by ex BCG executives Ankur Bhageria and Dushyant Agarwal in late 2017. It’s a platform for MSMEs and corporates to discount their outstanding Bills and invoices to improve their cash flow situation and maintain the smooth functioning of supply chain operations. 

Acting as a private working capital exchange, CashFlo allows corporate treasury departments with excess liquid funds which invest the money by discounting receivables from vendors and suppliers and providing them short term capital to improve their weak cash positions. 

The company currently operates with corporate customers in seven metro cities having their suppliers across 30 cities in India. 

Existing customers include Bajaj Group, Tata Group, Vedanta group, Aditya Birla Group, among others. The risk factor remains low as all of these companies well-reputed large scale corporates in India, and the probability of default is minimal. 

CashFlo works with its sister entity Hi-tech Corporate Services Ltd(HCS), an NBFC registered with RBI acting as a market intermediary and has raised over Rs 10,000 crores of capital till date. 

It has an exclusive partnership with India’s trade receivables and discounting system (TREDS) and works with organisations across 10+ sectors ranging from manufacturing, retail, pharma, capital goods, textiles, logistics and service industries among others. 

SAIF Partners leads Rs 29 Cr Series A round in CashFlo

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
Kindly make the payment to confirm your seat for Unicorn trip 2.1. For any other queries/concern: pls drop a email on: [email protected] or [email protected]
X