CredFlow has secured $3.7million from its existing investors Inflexor Ventures and a prominent Singapore-based family office, the New Delhi-based fintech startup said in a note.
The funds raised will be used for scaling financial services and lending verticals, as well as towards improving its technology and innovation capabilities, the company said.
“The funds raised in this round will primarily drive the expansion of our embedded digital lending arm, CredFlow Finance, and mark a significant step towards acquiring our NBFC licence,” said Kunal Aggarwal, founder of CredFlow.
Prior to this, the firm had raised $9.2 million across two venture funding rounds. Its investors include Omidyar Network, Stellaris Venture Partners and Flourish Ventures.
CredFlow offers small and medium businesses various payment-related services like collection of invoices, payment acceptance, cash flow management, financial analysis and such.
The company said it aims to grow its business while continuing to add multiple layers of small business-centric financial services solutions on top of its existing platform.
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