Febi.ai built by domain expertise people has secured its pre- series A funding of USD 2 million from Lumis Partners, Virender Rana (JP Morgan, Ex-Managing Director, Payments), Amit Chaudhary (Co-founder, Lenskart), Padmaja Ruparel (Co-founder, Indian Angel Network), Rohan Bhargava (Co-founder, Cashkaro), Rajat Jain (Chairman Fino Payments Bank) and other notable investors.
Established in 2022, Febi.ai has been built by a blend of chartered accountants and technology experts’ team. Through its artificial intelligence capabilities, it eliminates manual data entry, and manual errors while performing accounting, and verification of invoices, automates documentation management, automates tax compliance and provides founders and entrepreneurs with real-time business insights to make well-informed decisions with higher confidence, claimed the company.
Amit Jindal, Chief Executive Officer, Febi.ai, said, “It has been built by the Chartered Accountant (CA) community and will empower entrepreneurs and the CA community with real-time insights and effective ways to manage accounting and tax compliance functions.
Febi.ai stands for Founders Entrepreneur Books Innovation. Compay said that the name reflects the company’s strong foundation of innovation in the finance industry and its entrepreneurial spirit.
It plans to use the fresh capital to further advance its artificial intelligence capabilities to automate accounting and tax compliance platforms, ramp up customer acquisition and expand its workforce.
Padmaja Ruparel, Co-founder, Indian Angel Network, shared her thoughts, “Febi.ai is an innovative software and has the full potential to be the industry leader in its space. As someone who has connected so closely with the Indian entrepreneurial ecosystem, it’s a great platform for businesses trying to stay on top of their tax compliance and financial management.”
