Flowbiz FloBiz monthly active users jumps 250%; targets 7X growth by next year
Bengaluru/IBNS: FinTech startup FloBiz is witnessing 250% growth in monthly active users and aims to achieve 7X growth by 2022, the company said.
On the heels of raising Series A investment led by Elevation Capital, FloBiz is on a strong growth trajectory to enable small businesses to digitise their daily operations, it added.
Despite the intermittent lockdowns imposed due to the 1st & 2nd wave of COVID-19, FloBiz witnessed an increase in monthly active users & GST registered users of myBillBook - the company's flagship product helping SMBs in billing & accounting, taking the overall tally to 5 million downloads in 2021.
The startup observed a 200% increase in business volume amounting to transactions, recorded over USD 883 million transactions in July on the myBillBook app.
He further added that “Our growth is testimony to the faith our SMB partners have placed in us. We will continue to develop & deliver deeper solutions to power their growth and enable a seamless start to their digitisation journey. ”
Keeping in line with its exponential growth, FloBiz plans to increase its engineering, product & data workforce by 3X in the next 6 months.
Highlights:
FloBiz reports doubling of top-line growth year-on-year and increased its customer base to 5 million SMBs in 2021
Flagship product, myBillbook is witnessing exponential growth in GST registered businesses across 3000+ towns and 40+ sectors
In 2020-21, FloBiz recorded a 200% increase in transaction volume amounting to transactions worth USD 883 million monthly
Plans to triple its engineering, product & data workforce in the next 6-9 months
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