[Funding alert] FloBiz raises $10M in Series A round led by Elevation Capital
Summary
Tech startup FloBiz, which offers a billing and accounting app targeted at small and medium businesses (SMB), has raised $10 million in a Series A round led by Elevation Capital. The startup plans to use the latest round of funding for team expansion, product development, and accelerating its sales and marketing initiatives. According to FloBiz, tailwinds such as internet penetration, goods and services tax compliance, and technology adoption by small businesses will boost its growth. “We strongly believe that our product myBillBook empowers SMBs by automating their workflows, helps maintain inventory better, manage their receivables and payables, and download critical business reports for quick and efficient decision-making on the go,” said Rahul. We believe that myBillBook is building for foundational, deep use cases for this segment making the product indispensable to SMB owners.”