SaaS Fintech Growfin Raises US$7.5M to Help CFOs Manage Cashflowby Fintech News Singapore March 8, 2023
SaaS fintech startup Growfin announced that it has raised a US$7.5 million Series A funding round to provide real-time visibility and predictability in cash flow for modern CFOs.
The funding round was led by Singapore’s SWC Global with participation from existing investors 3one4 Capital and angels.
With the fresh funds, Growfin said that it will make significant investments in its tech stack and product range in 2023.
The fintech is looking to expand its offering from a Finance CRM to an all-in-one integrated cash solution that will enable B2B enterprises to streamline and manage cash flow to enhance its product’s predictive AI capabilities.
Founded in 2021, Growfin reported a 8x growth in customer numbers over the last 12 months during which time the company has helped businesses collect US$1 billion in account receivables (AR).
Aravind Gopalan, Co-founder and CEO at Growfin commented,
“Growfin enables anyone concerned with invoice payment, including the customer, to collaborate in one place where they all see the same information and help solve payment issues faster.
This collaboration-first approach will offer better efficiencies and greater transparency and build trusted relationships between customers and businesses towards collecting B2B payments faster.”