Febi.ai, an accounting and tax management platform, has just closed its $2 million pre-series A funding round with the investment that came from luminaries such as investment house Lumis Partners, Virender Rana, Amit Chaudhary of Lenskart, Padmaja Ruparel, Cashkaro’s co-founder Rohan Bhargava, Rajat Jain, among others.
PC: Entrackr
Infusion of capital to accelerate the company’s mission of boosting artificial intelligence capacity, with a focus on automating accounting and tax compliance processes. Besides, part of the infusion will be channelled into strengthening customer acquisition efforts and hiring, according to a recent press release.
The company was founded in 2022 by Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal. Febi.ai streamlines accounting and invoice verification processes with the most advanced AI technology, removing challenges and errors from manual data entry and making documentation management and tax compliance effortless for founders and entrepreneurs while giving them real-time business insights to make the right decisions.
Headquartered in Gurugram, Febi.ai wants to address the real-time challenges that exist in teams and end-users of existing accounting and tax compliance platforms. The company has developed a platform in collaboration with the chartered accountant community and offers real-time insights into efficient tools for entrepreneurs and CAs to seamlessly manage accounting and tax compliance functions.
To ensure the smooth working of every accounting, tax compliance, and finance in real-time, Febi.ai leverages advanced AI/ML technology with a team of experienced domain experts, CAs, and personal accountants. The platform further offers personal financial guidance to each user with dedicated personal accountants for enhancing the user experience.
Citing the benefits in terms of how automation and real-time insights can benefit users, Febi.ai seeks to revolutionize the way financial transactions are made by firms, and how entrepreneurs and experts alike manage various tax compliance complexities more effectively and efficiently.
This is where Febi.ai comes onto the scene, while exposing this new side of accounting, tax management, and strategic AI, making this very company a genuine pioneer in the map of fintech. By individually tailored guidance for every business and easy instruments for managing complicated financial processes, Febi.ai promises to break through traditional accounting and help businesses succeed in an increasingly digital and data-driven world. Success in attracting funding lately by the company will indicate a bright future of growth in innovations regarding the financial technology sector.
