About Firmway
Firmway is a Technology company based in Mumbai (India) founded in 2016. It operates as an online transaction monitoring and reconciliation services are provided for businesses. Firmway has raised $66.18 thousand across 1 funding round from investors including John Arun Diaz, Taher Khokhawala and Neeta Sanjay Rambhia. Firmway was last valued at $884.24 thousand in January 2021. Its Indian entity Firmway Services Private Limited reported revenue of ₹2.51 Cr. Firmway offers products and services including Balance Confirmation, Audit Confirmation, MSME Status Confirmation, Ledger Reconciliation, and 26AS Reconciliation. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Accounting Suite. Its competitors include Intuit, Visma, Clear, Wave and Xero and 4 more; 8 of its 9 listed competitors have raised funding.
Company details
Firmway was founded in 2016 and is headquartered in Mumbai, India. Transaction monitoring and reconciliation services are offered to businesses in the financial sector. Tracking of trade receivables, payables, deposits, loans, advances, sales, purchases, receipts, and payments is facilitated. Solutions for balance confirmation, auto-reconciliation, collection management, and data collection are included. Confirmations are sent, responses are tracked, reminders are automated, and reporting is provided.
- Headquarters Mumbai, India
- SectorsTechnology
- Website category Finance · Accounting and Auditing
- Email••••••••
- Phone•••• ••••
- Website firmway.in
- Social LinkedIn X Facebook
- Legal Name Firmway Services Private Limited
- Date of Incorporation 19 Jul, 2016
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹2.51 Cr
FY 2024 · +56% YoY
- Net Profit₹3.1 Lakh
FY 2024 · 1% margin
- EBITDA₹36.4 Lakh
FY 2024 · 15% margin
- Total Equity Funding$66.18K (USD)
in 1 rounds
- Latest Funding Round$66.18K (USD), Seed
Jan 2021
Associated legal entities of Firmway
Firmway operates through Firmway Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Firmway Services Private Limited CIN U72900MH2016PTC283841 | Active | 19 Jul 2016 | Mumbai, Maharashtra | ₹2.5 Cr | 21 | 2 | View details |
Products & Services of Firmway
Firmway offers a comprehensive portfolio of products and services, including Balance Confirmation, Audit Confirmation, MSME Status Confirmation, Ledger Reconciliation, and 26AS Reconciliation.
Automates verification of account balances for accurate financial reporting.
Facilitates electronic audit confirmations to ensure compliance and efficiency.
Checks and confirms MSME status for regulatory adherence in transactions.
Automates ledger matching to highlight and resolve financial discrepancies.
Reconciles income tax data for accurate reporting and compliance checks.
Funding Insights of Firmway
Firmway has successfully raised a total of $66.18K through 1 strategic funding round. The most recent funding activity was a Seed round of $66.18 thousand completed in January 2021. 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 $66,177
- Total Rounds 1
- Last Round Seed — $66,177
- First Round $66,177
(Jan 2021)
- Investors Count 19
All 1 funding rounds of Firmway 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 |
|---|---|---|---|---|---|
| Jan 2021 | $66,177 | Seed | $884,238 | John Arunkumar Diaz |
Last known valuation $884,238 (Jan 2021). 19 investors in total: 0 institutional and 19 angel.
Investors in Firmway
Firmway has secured backing from 19 investors, including angel investors. Prominent investors backing the company include John Arun Diaz, Taher Khokhawala and Neeta Sanjay Rambhia.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
JA John Arun Diaz | - | – | unknown_03439e537212433b9 | - |
TK Taher Khokhawala | - | – | unknown_c12d74f01b2c4615b | - |
NS Neeta Sanjay Rambhia | - | – | unknown_d72a3e245be24ea58 | - |
AG Apurv Gandhi | - | – | unknown_6d66b6dc731547e68 | - |
IS Indu Singh | Angel investor focusing on early-stage Indian startups in tech and consumer sectors. | – | unknown_52e1ebbad51e4c2aa | - |
PS Prateek Sachdev | Angel investor and entrepreneur, focused on early-stage Indian startups. | – | unknown_11e58dd6a1af4dbba | - |
AS Aniruddha Shreekant Godbole | - | – | unknown_4ab9e04c2af8475da | - |
SK Sanjay Kumar Barnwal | - | – | unknown_16b781b31ae34f6a9 | - |
JK Jignesh Kenia | - | – | unknown_009c9bb5ca9b43ffb | - |
RN Rajesh Neelakanthan | - | – | unknown_ac0b3ddce1d44a519 | - |
Investor details for Firmway
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Board of directors of Firmway Services Private Limited (Firmway)
Firmway Services Private Limited is the primary company behind Firmway. The board of Firmway Services Private Limited currently have 2 directors; the longest-serving is Vivek Kishorbhai Chandan, appointed in 2016.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vivek Kishorbhai Chandan DIN 07529475 | Director | 19 Jul 2016 | 10 yrs 3 mo | Firmway Services Private Limited |
| Prashant Pradeep Gupta DIN 07513804 | Director | 19 Jul 2016 | 10 yrs 3 mo | Firmway Services Private Limited |
People of Firmway
3 people are tracked at Firmway (3 in leadership).
| Name | Role | Group |
|---|---|---|
Jay Savla | Chief Product Officer | Leadership |
| Co-founder | Leadership | |
| CEO & Co-founder | Leadership |
Complete people profiles for Firmway
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Firmway
Figures of Firmway Services Private Limited, the primary company behind Firmway, for FY 2024. Revenue was ₹2.51 Cr (+56% year on year). Net profit was ₹3.1 Lakh (1% margin). EBITDA was ₹36.4 Lakh (15% margin). Revenue has grown at a compounded annual rate of +84% over three years and +124% over five years.
- ₹2.51 CrRevenue · FY 2024 · +56% YoY
- ₹3.1 LakhNet profit · 1% margin
- ₹36.4 LakhEBITDA · 15% margin
- ₹1.2 LakhPaid-up capital
- 21Employees (provident fund records)
- +84%Revenue CAGR, 3 years
- +124%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Firmway Services Private Limited are on its company page.
Detailed financial statements for Firmway
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of Firmway
2 dated milestones of Firmway across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Firmway is founded.
- Funding First funding round of $66K.
Competitors of Firmway
Firmway has 9 listed competitors in our database, 8 of them funded. They include Intuit, Visma, Clear, Wave and Xero, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| intuit.com | 1983 | Mountain View, United States | $49.62M | 18,800 | Financial and accounting software is developed for businesses and individuals. | |
| visma.com | 1996 | Oslo, Norway | $198.09M | – | Cloud-based ERP software is provided for business management across segments. | |
| clear.in | 2011 | Bengaluru, India | $140.42M | – | Technology-enabled accounting and finance solutions are offered for SMBs. | |
| waveapps.com | 2010 | Toronto, Canada | $82.4M | – | Web-based accounting software is offered for business use. | |
| xero.com | 2006 | Wellington, New Zealand | – | 347 | Cloud-based accounting and payment management is offered for small businesses. | |
| freshbooks.com | 2003 | Toronto, Canada | $153.75M | 613 | Cloud-based invoicing and accounting software is offered for businesses. | |
| freeagent.com | 2007 | Edinburgh, United Kingdom | $21.89M | 264 | Cloud-based accounting software is provided for small businesses and freelancers. | |
| found.com | 2019 | San Francisco, United States | $118.75M | 35 | Accounting and bookkeeping solutions are provided for small businesses. | |
| pennylane.com | 2020 | Paris, France | $442.41M | – | Cloud-based accounting and financial management solutions are provided for businesses. |
Detailed competitors of Firmway
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of Firmway
The website of Firmway (firmway.in) receives about 6.4K visits a month and ranks #1,052,030 among all websites worldwide, #2,602 in Accounting and Auditing.
- Monthly visits6.4K
▼ 66.6% vs previous month
- Unique visitors8.9K
per month
- Global rank#1,052,030
among all websites
- Category rank#2,602
Finance · Accounting and Auditing
- Bounce rate22%
- Pages per visit3.6
- Average visit2 min 36 sec
- DevicesDesktop 25% · Mobile 75%
Top companies in Finance & Accounting Applications
10 companies that operate in the same segment as Firmway (Finance & Accounting Applications), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | – | 6,209 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.2 B | – | 5,356 | |
Subscription-based online banking is offered to SMEs and freelancers. | 2017 | Paris, Ile de France, France | USD 717.15 M | USD 171.7 M | 2,457 | |
Cloud-based ERP software is provided for business management across segments. | 1996 | Oslo, Oslo, Norway | USD 198.09 M | – | – | |
Payflow is recognized as a financial wellness application for employees. | 2020 | Alcobendas, Comunidad De Madrid, Spain | USD 58.23 M | – | – | |
Cloud-based HR and payroll solutions are offered for small businesses. | 2012 | San Francisco, California, United States | USD 718.35 M | – | 8,159 |
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Related news about Firmway
Complete news archive for Firmway
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Frequently Asked Questions about Firmway
Firmway was founded in 2016 and raised its 1st funding round 5 years after it was founded.
Firmway is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Firmway is a funded company, having raised a total of $66.18K across 1 funding round to date. The company's 1st funding round was a Seed of $66.18K, raised on Jan 2021.
The primary company behind Firmway, Firmway Services Private Limited, reported revenue of ₹2.51 Cr for FY 2024, up 56% year on year.
Firmway was founded in 2016 and is headquartered in Mumbai, India. Transaction monitoring and reconciliation services are offered to businesses in the financial sector. Tracking of trade receivables, payables, deposits, loans, advances, sales, purchases, receipts, and payments is facilitated. Solutions for balance confirmation, auto-reconciliation, collection management, and data collection are included. Confirmations are sent, responses are tracked, reminders are automated, and reporting is provided.
Firmway offers Balance Confirmation, Audit Confirmation, MSME Status Confirmation, Ledger Reconciliation, and 26AS Reconciliation.
Firmway has 19 investors. Key investors include John Arun Diaz, Taher Khokhawala, Neeta Sanjay Rambhia, Apurv Gandhi, and Indu Singh.
The valuation of Firmway is $884.24K as of Jan 2021.
Firmway operates through Firmway Services Private Limited.
The legal entities of Firmway currently have 2 directors, including Vivek Kishorbhai Chandan, Prashant Pradeep Gupta.