Neobank FloBiz raises $31-M from Sequoia Capital, Think Investments, others

FloBiz, a Bangalore-headquartered neobank for small and medium enterprise (SMEs), has raised USD 31 million in Series B round led by Sequoia Capital India, Think Investments and existing investors Elevation Capital and Beenext. The capital will be deployed for team expansion, product development and for scaling distribution to serve more businesses. FloBiz's flagship product myBillBook helps SMEs digitise invoicing, streamline business accounting and automate workflows. The round also saw participation from Vijay Shekhar Sharma (Paytm), Kunal Shah (CRED), Jiten Gupta (Jupiter), Amrish Rau (Pine Labs), Neeraj Arora (HalloApp), Nitin Gupta (Uni Cards), Ankit Tomar (Bizongo), Sayali Karanjkar (PaySense) and Krishnan Menon (BukuKas), besides 9Unicorns and Whiteboard Capital.