This Neobank for India’s Small Businesses Just Raised $31 Million Led by Sequoia Capital
By Ridhima Saxena
Flobiz, a neobank focused on small and medium businesses in India, has raised $31 million in a Series B funding round, led by venture capital firm Sequoia Capital India, the company said in a press release on Monday.
The round also saw participation from early-stage VC firm Think Investments, along with FloBiz’s existing investors Elevation Capital and Beenext.
Neobanks are fintech firms that partner with banks and non-banking financial companies in order to provide digital banking services to its customers.
Photo courtesy of Chris Bird.