Supply chain financier Cashinvoice raises $3.4 M from Pravega Ventures, others

Mumbai-based supply chain financing platform Cashinvoice has raised USD 3.4 million in its Series A round from Pravega Ventures, HDFC Bank and existing investor Accion Venture Lab.The startup had earlier raised USD 1 million in its pre-Series A round from Accion Venture Lab in 2021.Founded in September 2019, Cashinovice provides customised supply chain financing solutions to the buyers and suppliers of mid and large corporates through its digital marketplace for invoice discounting. It claims to partner with 25 banks and a network of anchor firms such as Tata Motors, Voltas and Britannia.Cashinvoice claims to have a network of 100,000 distributing and supplying vendors, of which 5,000 are actively borrowing MSMEs. Its total invoice financing throughput stands at around INR 17,000 crore.