FloBiz, a neobank startup focused on the SMB segment, has raised $31 million in a Series B round led by Sequoia Capital India and Think Investments, with participation from existing investors Elevation Capital and Beenext.
This funding round also saw participation from leading angel investors such as Paytm's Vijay Shekhar Sharma, CRED's Kunal Shah, Jupiter's Jiten Gupta, Pine Labs' Amrish Rau, HalloApp's Neeraj Arora, Uni Cards' Nitin Gupta, Bizongo's Ankit Tomar, PaySense's Sayali Karanjkar, and BukuKas' Krishnan Menon, along with 9Unicorns and Whiteboard Capital.
Neobank startup FloBiz will use this funding for team expansion, product development, and to make deeper inroads into the SMB market.
