COMPANY PROFILE

FloBiz

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A neobank for SMBs, developer of myBillBook

Bengaluru, IndiaFounded 2019Fintech

Valuation $100–250M Last recorded · 2021

Revenue $10–50M Latest reported FY

Headcount 100–500 Current team size

Total funding $50–100M Disclosed equity funding

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About FloBiz

FloBiz, founded in 2019 by alumni from prestigious institutions like IIT and BITS, is a neobank specifically designed to serve small and medium-sized businesses (SMBs) in India. A neobank is a type of bank that operates exclusively online without traditional physical branch networks. FloBiz aims to accelerate the growth of SMBs through digitization, offering a suite of mobile-first solutions that simplify and enhance business operations.

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The flagship product of FloBiz is myBillBook, a comprehensive business management tool. myBillBook allows SMB owners to create professional invoices, share them via WhatsApp, track and manage inventory, analyze business performance through detailed reports, and send payment reminders to ensure timely collections. Additionally, it offers customizable business cards and greetings to help build and maintain customer relationships.

FloBiz operates in the Indian market, focusing on the vast and diverse SMB sector, which is a critical component of the country's economy. The company’s business model revolves around providing digital tools that streamline business processes, making it easier for SMBs to operate efficiently and grow. FloBiz generates revenue through subscriptions to its digital products and services, offering various pricing tiers to cater to different business needs.

Backed by prominent investors such as Sequoia Capital, Elevation Capital, Greenoaks Capital, Beenext, and Think Investments, FloBiz is well-positioned to continue its mission of empowering SMBs. The company’s innovative approach and empathetic understanding of native business practices make it a valuable partner for small and medium enterprises looking to modernize and expand.

Source: Dealroom company data