About Fyle
Fyle is a company based in Bengaluru (India) founded in 2016 by Yashwanth Madhusudan and Sivaramakrishnan Narayanan was acquired by Sage Group in August 2025.. Fyle has raised $15.36 million across 6 funding rounds from investors including Freshworks, Sage Group and Pravega Ventures. The company has 104 employees as of April 01, 2024. Fyle offers products and services including Expense Automation, Receipt Tracking, Expense Workflows, and Card Reconciliation. Fyle operates in a competitive market with competitors including Brex, Ramp, Navan, Airbase and Emburse, among others.
- Headquarter Bengaluru, India
- Employees 104 as on 01 Apr, 2024
- Founders Yashwanth Madhusudan, Sivaramakrishnan Narayanan
- Stage Minicorn
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Sectors
Travel & HospitalityTechnology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Fyle Technologies Private Limited
- Date of Incorporation 16 Feb, 2016
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$1.81 M (USD)57.56as on Mar 31, 2023
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Net Profit
$-1.61 M (USD)-8.84as on Mar 31, 2023
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EBITDA
$-1.43 M (USD)-5.71as on Mar 31, 2023
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Total Equity Funding
$15.36 M (USD)
in 6 rounds
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Latest Funding Round
$4.5 M (USD), Series A
Oct 21, 2022
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Investors
Freshworks
& 23 more
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Employee Count
104
as on Apr 01, 2024
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Acquired by
Sage Group
(Aug 04, 2025)
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Products & Services of Fyle
Fyle offers a comprehensive portfolio of products and services, including Expense Automation, Receipt Tracking, Expense Workflows, and Card Reconciliation. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates data extraction from receipts for efficient expense processing.
Monitors expenses from apps like Gmail and Slack for easy management.
Handles approvals and reimbursements to streamline financial operations.
Matches receipts with credit card transactions for accurate accounting.
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Funding Insights of Fyle
Fyle has successfully raised a total of $15.36M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $4.5 million completed in October 2022. 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 6
- Last Round Series A — $4.5M
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First Round
First Round
(29 Jun 2016)
- Investors Count 23
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2022 | Amount | Series A - Fyle | Valuation | Tiger Global Management , Pravega Ventures |
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| Apr, 2019 | Amount | Series A - Fyle | Valuation | Steadview | |
| Nov, 2018 | Amount | Series A - Fyle | Valuation | Tiger Global Management |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Fyle
Fyle has secured backing from 24 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Freshworks, Sage Group and Pravega Ventures. 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 |
|---|---|---|---|---|
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location | |
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Financial services, strategic advisory, and partnerships in investments.
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Founded Year | Domain | Location | |
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Early-stage venture capital fund
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Fyle
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Fyle
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Fyle Comparisons
Competitors of Fyle
Fyle 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 Brex, Ramp, Navan, Airbase and Emburse, 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 |
SaaS-driven credit card and spend management solutions platform for businesses
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| domain | founded_year | HQ Location |
Spend management and accounts payable solutions are delivered to businesses.
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| domain | founded_year | HQ Location |
Corporate travel and expense management are facilitated through SaaS platform.
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| domain | founded_year | HQ Location |
Procure-to-pay management software is offered for business operations.
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| domain | founded_year | HQ Location |
Corporate cards and expense management are offered to businesses.
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| domain | founded_year | HQ Location |
SaaS expense management solutions for business travel are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Fyle
Frequently Asked Questions about Fyle
When was Fyle founded?
Fyle was founded in 2016.
Where is Fyle located?
Fyle is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Fyle?
Yashwanth Madhusudan is the current CEO of Fyle. They have also founded this company.
Is Fyle a funded company?
Fyle is a funded company, having raised a total of $15.36M across 6 funding rounds to date. The company's 1st funding round was a Series A of $4.85M, raised on Jun 29, 2016.
How many employees does Fyle have?
As of Apr 01, 2024, the latest employee count at Fyle is 104.
What is the annual revenue of Fyle?
Annual revenue of Fyle is $1.81M as on Mar 31, 2023.
What does Fyle do?
Fyle was founded in 2016 in Bengaluru, India, within the SaaS sector focused on financial tools. Cloud-driven solutions are offered for tracking employee expenses, ensuring automated compliance, and delivering analytics for operational insights. Mail plugins are integrated to extract data from inboxes, and a mobile application is utilized for scanning paper receipts alongside travel expense monitoring. AI is applied for receipt categorization and secure cloud storage.
What products or services does Fyle offer?
Fyle offers Expense Automation, Receipt Tracking, Expense Workflows, and Card Reconciliation.
Who are Fyle's investors?
Fyle has 24 investors. Key investors include Freshworks, Sage Group, Pravega Ventures, Startup Karnataka, and Tiger Global.
What is Fyle's valuation?
The valuation of Fyle is $71.02M as of Oct 2022.
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