About Finly
Finly is a Technology company based in Bengaluru (India) founded in 2015, and was acquired by Lockstep in August 2021. Cloud-based accounts payable automation is delivered for business expense management. Finly has raised $504.86 thousand across 1 funding round from investors including Angel List, Sumitomo Corporation and 91Springboard. The company has 36 employees. Finly was last valued at $2.81 million in May 2019. Its Indian entity Vv Finly Technology Private Limited reported revenue of ₹5.19 Cr. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Account Payables & Receivables.
Company details
Finly was founded in 2015 in Bengaluru, India, within the fintech sector. A cloud-based platform is operated to automate accounts payable processes for businesses. Features encompass expense report submissions, reimbursement handling, compliance oversight, spending policy enforcement, custom workflow creation, integration with accounting software, and data insights generation. Mobile access is supported via Android and iOS applications.
- Headquarters Bengaluru, India
- Employees 36
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Phone•••• ••••
- Website finly.io
- Social LinkedIn X Facebook YouTube
- Acquired by Lockstep (Aug 2021)
- Legal Name Vv Finly Technology Private Limited
- Date of Incorporation 07 Feb, 2019
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹5.19 Cr
FY 2025 · -22% YoY
- Net Profit₹3.02 Cr
FY 2025 · 58% margin
- EBITDA₹4.27 Cr
FY 2025 · 82% margin
- Total Equity Funding$504.86K (USD)
in 1 rounds
- Latest Funding Round$504.86K (USD), Seed
May 2019
- InvestorsAngel List
& 17 more
- Employee Count36
- Acquired byLockstep
(Aug 2021)
Associated legal entities of Finly
Finly is associated with 3 registered companies on The Company Check; the primary company is Vv Finly Technology Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Vv Finly Technology Private Limited CIN U72200KA2019PTC121171 | Active | 07 Feb 2019 | Bangalore, Karnataka | ₹5.2 Cr | 36 | 2 | View details |
| Lockstep Network India Private Limited CIN U72501PN2019FTC187354 | Active | 19 Oct 2019 | Pune, Maharashtra | ₹80.9 Cr | 119 | 2 | View details |
| Jouska Tech Private Limited CIN U72200KA2015PTC081119 | Strike Off | 24 Jun 2015 | Bengaluru, Karnataka | ₹1.1 Cr | 2 | View details |
Apps and channels of Finly
its YouTube channel Finly Accounts Payable has 76 subscribers and 9 videos.
Videos from Finly
The most watched videos on Finly's YouTube channel, Finly Accounts Payable (76 subscribers). Click a video to play it here.
More on Finly Accounts Payable.
Funding Insights of Finly
Finly has successfully raised a total of $504.86K through 1 strategic funding round. The most recent funding activity was a Seed round of $504.86 thousand completed in May 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $504,857
- Total Rounds 1
- Last Round Seed — $504,857
- First Round $504,857
(May 2019)
- Investors Count 17
All 1 funding rounds of Finly with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2019 | $504,857 | Seed | $2.81M | Chamath Palihapitiya, Wellfound |
| Date | Valuation | Stage |
|---|---|---|
| May 2019 | $2.81M | •••••••• |
Last known valuation $2.81M (May 2019). 18 investors in total: 16 institutional and 2 angel.
Investors in Finly
Finly has secured backing from 18 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Angel List, Sumitomo Corporation and 91Springboard.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
AI startup acceleration and networking services are offered globally. | 2017 | upekkha.io | Bengaluru, India | |
Early-stage investments are targeted by this venture capital firm. | ||||
Early-stage investments are made by Omphalos Ventures in US firms. | omphalosventures.net | Shakopee, United States | ||
Venture capital firm backing startups in Fintech and Consumer Tech sectors. | 2017 | gembacapital.in | Bengaluru, India | |
US focused VC firm investing in seed & growth stage companies | 2011 | socialcapital.com | Menlo Park, United States | |
Angel network and startup accelerator focused on healthtech, agritech, AI, fintech, SaaS, and multiple sectors | 888vc.co | Bengaluru, India | ||
Multiple sectors are targeted through venture capital investments. | Kuwait City, Kuwait | |||
Alternative investment platform for startups and investors is operated. | 2010 | angellist.com | San Francisco, United States | |
Offers housing counseling, financial assistance, and foreclosure prevention services nationwide. | 2010 | springboardsolutions.org | Riverside, United States | |
Online platform that connects startup founders with accredited investors, enabling early-stage fundraising and investment opportunities for private market growth | 2013 | letsventure.com | Bengaluru, India |
Investor details for Finly
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Vv Finly Technology Private Limited (Finly)
Vv Finly Technology Private Limited is the primary company behind Finly. The boards of the 3 registered companies of Finly currently have 5 directors; the longest-serving is Vivek Alike Ganapathy, appointed in 2015. 8 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vivek Alike Ganapathy DIN 07194610 | Director | 24 Jun 2015 | 11 yrs 4 mo | Jouska Tech Private Limited |
| Veekshith Chandrashekar Rai DIN 07194619 | Director | 24 Jun 2015 | 11 yrs 4 mo | Jouska Tech Private Limited |
| Mudassar Zakariya Shaikh DIN 08591983 | Director | 19 Oct 2019 | 7 yrs | Lockstep Network India Private Limited |
| Mahesh Inderpal Garg DIN 07358102 | Director | 30 Aug 2022 | 4 yrs 2 mo | Vv Finly Technology Private Limited, Lockstep Network India Private Limited |
| Anand Mundra DIN 10477918 | Director | 20 May 2024 | 2 yrs 5 mo | Vv Finly Technology Private Limited |
Financials of Finly
Figures of Vv Finly Technology Private Limited, the primary company behind Finly, for FY 2025. Revenue was ₹5.19 Cr (-22% year on year). Net profit was ₹3.02 Cr (58% margin). EBITDA was ₹4.27 Cr (82% margin). Revenue has grown at a compounded annual rate of +10% over three years and +20% over five years.
- ₹5.19 CrRevenue · FY 2025 · -22% YoY
- ₹3.02 CrNet profit · 58% margin
- ₹4.27 CrEBITDA · 82% margin
- ₹5.1 LakhPaid-up capital
- 36Employees (provident fund records)
- +10%Revenue CAGR, 3 years
- +20%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Vv Finly Technology Private Limited are on its company page.
Detailed financial statements for Finly
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Finly
4 dated milestones of Finly across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Finly is founded.
- Funding First funding round of $505K.
- Milestone Reaches Minicorn status.
- Exit Acquired by Lockstep.
Web traffic of Finly
The website of Finly (finly.io) receives about 1.4K visits a month.
- Monthly visits1.4K
▼ 6% vs previous month
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Frequently Asked Questions about Finly
Finly was founded in 2015 and raised its 1st funding round 4 years after it was founded.
Finly is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Finly is a funded company, having raised a total of $504.86K across 1 funding round to date. The company's 1st funding round was a Seed of $504.86K, raised on May 2019.
Finly has 36 employees.
The primary company behind Finly, Vv Finly Technology Private Limited, reported revenue of ₹5.19 Cr for FY 2025, down 22% year on year.
Finly was founded in 2015 in Bengaluru, India, within the fintech sector. A cloud-based platform is operated to automate accounts payable processes for businesses. Features encompass expense report submissions, reimbursement handling, compliance oversight, spending policy enforcement, custom workflow creation, integration with accounting software, and data insights generation. Mobile access is supported via Android and iOS applications.
Finly has 18 investors. Key investors include Angel List, Sumitomo Corporation, 91Springboard, Wellfound, and Social Capital.
The valuation of Finly is $2.81M as of May 2019.
Finly is associated with 3 legal entities: Vv Finly Technology Private Limited, Jouska Tech Private Limited, Lockstep Network India Private Limited.
Yes. Finly was acquired by Lockstep in August 2021.
The legal entities of Finly currently have 5 directors, including Vivek Alike Ganapathy, Veekshith Chandrashekar Rai, Anand Mundra and others.