Febi.ai, an innovative accounting and bookkeeping platform, has secured $2 million (approximately INR 16.8 crore) in its pre-Series A funding round. The round was co-led by Lumis Partners, former JP Morgan executive Virender Rana, and Lenskart co-founder Amit Chaudhary. This funding will help Febi.ai further its mission to automate accounting and tax compliance processes through AI-driven solutions.

Key Investors

In addition to the lead investors, several prominent figures participated in this funding round, including:

• Padmaja Ruparel, co-founder of Indian Angel Network
• Rohan Bhargava, co-founder of Cashkaro
• Rajat Jain, Chairman of Fino Payments Bank

Funding Utilization

The newly raised funds will be directed toward:

• Enhancing AI capabilities to streamline accounting and tax compliance processes.
• Boosting customer acquisition efforts, targeting a broader market of startups and medium-sized businesses.
• Expanding the workforce to support the company's growth and development.

About Febi.ai

Founded in 2022 by a team of experienced entrepreneurs—Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal—Febi.ai specializes in providing solutions for documentation management and tax compliance automation. The platform offers real-time business insights, enabling startups and medium-sized businesses to make informed decisions with greater ease and accuracy.

CEO's Statement

Co-founder and CEO Amit Jindal expressed his excitement about the funding, stating:

"Febi.ai will empower entrepreneurs and the CA community with real-time insights and effective ways to manage accounting and tax compliance functions."

Source: Pune News