Fintech startup Numberz set to raise about $3 million from Sequoia

BENGALURU: Fintech startup Numberz, which helps small businesses in invoice and cash flow management, is in advanced talks to raise a new round of funding from Sequoia Capital. The Gurugram-based startup had last year raised seed funding from Kae Capital and Khosla Impact. 

The company is set to raise about $3 million from Sequoia, according to two sources. The company did not comment, while Sequoia did not respond to ET's queries till the time of going to the press. 
 

The company was founded by Aditya Tulsian, a former Intuit executive, Rajeev Chari, who has worked with SAS India; and Baskar Ganapathy, who had worked at AT&T and Intuit. The startup, which was founded in 2015, was earlier called Getfiscal.

Numberz was also recently selected to be part of Yes BankBSE -1.88 %'s accelerator programme. With Yes Bank, the startup is creating a unified dashboard to integrate day-to-day banking within core business workflows for simplifying tasks like tracking expenses, managing payrolls, syncing data, making payments, etc, for small businesses.

The Numberz team is also offering GST-based solutions, which can enable access to clients' supply chain and the GSTN portal through the platform. 

Sequoia is also an investor in invoice discounting platform KredX, which enables small merchants to sell their invoices raised against blue-chip companies at a discount to investors, banks and financial institutions to raise money for their working capital needs.

Last month, Sequoia invested $9 million in lending startup MoneyTap. The fintech space has seen a spate of investments in recent months, on both the payments and lending side.

Originally published at: http://economictimes.indiatimes.com/small-biz/money/fintech-startup-numberz-set-to-raise-about-3-million-from-sequoia/articleshow/59538800.cms