Fyle Technologies Pvt Ltd, which is a Bangalore based expense management startup has now secured Rs 30 crore in the Series A funding round led by the New York Hedge Fund and the Venture Style Investor Tiger Global.
Some of the existing investors Beenext and Pravega Ventures also put the money in this round, according to the report which has been revealed.
The company as of now issued total of 6260 Series A convertible preference shares at Rs 46499 each to secure the capital.
Fyle was founded by the Siva RamaKrishnan Narayana and Vishwanath in the year 2016. It offers the employees a single platform to file expenses with a plugin that extracts and even classifies data from bills inside the emails and paper receipts. The plugin creates a structured data from the PDF’s, documents and emails.
Fyle’s algorithm also checks every transaction with the company policy across the entire database to avoid the fund.
Picture Credits: Fyle
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