Fintech startup CredFlow raises $2.1 million funding led by Stellaris, Omidyar, others

• CredFlow will use the funding to develop its platform, strengthening tech capabilities, and building new products.
• Investors Flourish Ventures and Nitin Gupta also participated in the funding round.
• It is also looking to grow its team across technology, product, and marketing to drive better growth.

New Delhi-based fintech startup CredFlow, which provides financial solutions to SMEs, has raised $2.1 million (about Rs 15 crore) in a seed funding round led by early-stage VC firm Stellaris Venture Partners, Omidyar Network India, Flourish Ventures, and Nitin Gupta (Founder & CEO of Uni Cards).

CredFlow intends to infuse the raised capital to develop its platform, strengthening tech capabilities, and building new products to drive better growth, the statement said. It is also planning to grow its team across technology, product, and marketing.

Prior to this investment, Stellaris Venture Partners had invested in chatbot startup LimeChat. Stellaris is an early-stage venture capital firm that mainly invests in technology-focused startups. Its portfolio includes Loadshare, Noticeboard, Mamaearth, among others.

Launched in May 2020 by Kunal Aggarwal, CredFlow (Bizcon Fintech Labs Pvt. Ltd.) develops a SaaS-based cash flow management platform that helps SMEs manage their finances through a dashboard of pending amounts by customers, sending timely payment reminders, validating invoices, and negotiating discounts for early payments.

Commenting on the development, Kunal Aggarwal, said, "Much of fintech innovation in the past decade has been focused either on large enterprises or retailers and micro-enterprises, while the mid-market B2B segment remains largely unaddressed."

"We’re excited to partner with Omidyar Network India, Stellaris Venture Partners, and Flourish Ventures in helping us leverage technology to realize this mission of making Indian SMEs truly Aatmanirbhar,” Kunal said in a statement.

CredFlow claims since its inception its has onboarded over 5,000 businesses processing invoices worth Rs 70,000 crore.

Looking at the growth opportunities, The startup is also looking forward to building a full-stack solution that will include cash flow-based financing, treasury management, and payments management to accelerate SMEs' business growth.

Also Read: Fintech startup EaseBuzz raises $4 million from 8i Ventures, Varanium Capital, others

Speaking on the investment, Treasa Mathew, Director at Omidyar Network India, said, "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 cash flows efficiently."

"In the long run, this will help Credflow become the financial operating system for small and medium-sized businesses, providing a view on their overall financial health and helping them access a diverse set of own and third party financial products," said, Ritesh Banglani, Partner at Stellaris Venture Partners.

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