About Finly
Finly is a company based in Bengaluru (India) founded in 2015 was acquired by Lockstep in August 2021.. Finly has raised $504.86 thousand across 1 funding round from investors including Angel List, Sumitomo Corporation and 91Springboard. The company has 36 employees as of April 05, 2024. Finly operates in a competitive market with competitors including Qonto, Melio, Lili, Routable and Settle, among others.
- Headquarter Bengaluru, India
- Employees 36 as on 05 Apr, 2024
- Stage Minicorn
-
Sectors
Technology
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Vv Finly Technology Private Limited
- Date of Incorporation 07 Feb, 2019
- Jurisdiction Bangaluru, Karnataka, India
-
Annual Revenue
$655.1 K (USD)40.77as on Mar 31, 2023
-
Net Profit
$-583.77 K (USD)-4096.39as on Mar 31, 2023
-
EBITDA
$-569.07 K (USD)-88113.71as on Mar 31, 2023
-
Total Equity Funding
$504.86 K (USD)
in 1 rounds
-
Latest Funding Round
$504.86 K (USD), Seed
May 06, 2019
-
Investors
Angel List
& 17 more
-
Employee Count
36
as on Apr 05, 2024
-
Acquired by
Lockstep
(Aug 27, 2021)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
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 Total Funding
- Total Rounds 1
- Last Round Seed — $504,857
-
First Round
First Round
(06 May 2019)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2019 | Amount | Seed - Finly | Valuation | Chamath Palihapitiya , Wellfound |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
AI startup acceleration and networking services are offered globally.
|
Founded Year | Domain | Location | |
|
Early-stage investments are targeted by this venture capital firm.
|
Founded Year | Domain | Location | |
|
Early-stage investments are made by Omphalos Ventures in US firms.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Finly
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Finly
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Finly Comparisons
Competitors of Finly
Finly operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Qonto, Melio, Lili, Routable and Settle, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Subscription-based online banking is offered to SMEs and freelancers.
|
|
| domain | founded_year | HQ Location |
Blood-based pathogen detection devices are manufactured for healthcare applications.
|
|
| domain | founded_year | HQ Location |
Digital banking services are offered to freelancers.
|
|
| domain | founded_year | HQ Location |
Online invoicing and payment software is provided for businesses.
|
|
| domain | founded_year | HQ Location |
Cloud-based cash flow management is provided for payers and vendors.
|
|
| domain | founded_year | HQ Location |
Cloud-based B2B accounts receivable solutions are offered.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Frequently Asked Questions about Finly
When was Finly founded?
Finly was founded in 2015 and raised its 1st funding round 4 years after it was founded.
Where is Finly located?
Finly is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is Finly a funded company?
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 06, 2019.
How many employees does Finly have?
As of Apr 05, 2024, the latest employee count at Finly is 36.
What is the annual revenue of Finly?
Annual revenue of Finly is $655.1K as on Mar 31, 2023.
What does Finly do?
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.
Who are Finly's investors?
Finly has 18 investors. Key investors include Angel List, Sumitomo Corporation, 91Springboard, Wellfound, and Social Capital.
What is Finly's valuation?
The valuation of Finly is $2.81M as of May 2019.