Cashflo, India’s multi-funder marketplace, raised $3.3 million in series A funding from a bunch of angel investors and SAIF partners. Currently catering to SMEs in over 30 cities, the company aims at providing a democratized access to credit in a transparent manner.

With the newly infused capital in the business, Cashflo seeks to expand its business and work on platform enhancement while building a high-calibre team. It seeks to expand its workforce by 75 employees in the next 24 months.

Started in September 2017, Cashflo intends to assist both the buyer and the seller in managing and optimizing their work capital in the lending market.

The company helps a seller in invoice discounting through exchanges and also get early payments while improving a buyer’s EBITDA margins by extending his payable days, thus creating a win-win situation for all.

Ankur Bhageria, the CEO and co-founder of Cashflo, said, “As an organisation, we are focused on democratizing access to credit in the SME space and tapping into new sources of liquidity for the credit economy while building a holistic ecosystem for the businesses on our platform in the long run.”

Cashflo is aimed at creating the largest digital marketplace in India for invoice discounting by addressing the day-to-day cash flow problems of small businesses and adding a new supply chain every two weeks.

Bhageria added that the investment by SAIF Partners will help the company reach the next phase of the growth and gives them the necessary fuel to become one of India’s leading supply chain financing platforms.
Talking about the investment, the Managing Director of SAIF Partners, Mridul Arora, said, “We, at SAIF Partners, have a strong belief in the founding team’s vision of creating a multi-product, highly liquid and value-accretive credit platform.”