FloBiz raises $31 mn in Series B round led by Sequoia, Think Investments

Existing investors Elevation Capital and Beenext also participate along with host of angels

Neobank FloBiz,has raised $31 million in Series B round led by Sequoia Capital India, Think Investments and its existing investors Elevation Capital and Beenext.

The latest round also saw participation from angels like Vijay Shekhar Sharma (Paytm), Kunal Shah (CRED), Jiten Gupta (Jupiter), Amrish Rau (Pine Labs), Neeraj Arora (HalloApp), Nitin Gupta (Uni Cards), Ankit Tomar (Bizongo), Sayali Karanjkar (PaySense) and Krishnan Menon (BukuKas), along with 9Unicorns and Whiteboard Capital.

The capital will be deployed for team expansion, product development and scaling distribution to serve more businesses. FloBiz will also focus on building additional technical capabilities within the organisation, as it prepares