The Bengaluru-based finance management company, Finly that helps businesses to automate, gain visibility & control business spend, has raised an undisclosed amount of seed funding from Social Capital, AngelList India, Gemba Capital, Omphalos Ventures, and 91springboard via Atal Innovation Mission and Niti Aayog.

The startup is planning to use the fund received to expand product offerings by concentrating on enhancing the intelligence layer and to handle the next phase of growth. Conceptualized by Vivek AG and Veekshith C Rai, Finly.io comprises of a scalable & intelligent Expense Management & E-Procurement System.

The powerful policy engine governs all business transactions & an integrated payment technology system allowing automation. With both the founders having a technology background, the startup’s focus is on achieving the maximum degree of automation externally and internally to achieve the highest efficiency.

At present, Finly has over 100 businesses in its fold, with marquee customers like Quikr, Upgrad, Meesho, ShareChat, and Olx. It integrates with all the business systems, allowing streamlining all spend & expenses in the organization with the likes of Tally, Quickbooks, SAP, Oracle etc. keeping your business system up-to-date.

“We believe the team has built a fantastic SaaS product for the global market. With Finly, a CFO can time his payments to better manage cash and capture early-payment discounts, reduce invoice processing time and costs, and engage your accounts payable department in more strategic, higher-value activities,” said Adith Podhar, Managing Partner at Gemba Capital

said Veekshith Rai, co-founder and COO, Finly said, “Our goal is to help CFOs and their key executives have more time to focus on their organization’s strategic priorities. We believe that technology will help finance professionals to spend less time and effort in day to day operations and focus on more critical tasks of analyzing and tracking key metrics relevant to the company's growth,”