Fyle, a Bengaluru, India-based intelligent expense management platform, received an additional $4.5m in venture capital funding from Steadview Capital.
Steadview Capital joined Fyle’s Series A round with continued participation from Tiger Global, Freshworks, and Pravega Ventures.
The company will use this round of funding to invest in product innovation and expand its global market footprint with additional sales and marketing investments.
Founded in 2016 and led by Yash Madhusudhan, CEO, Fyle provides a cloud-based, API-driven platform giving a mobile and desktop user experience that integrates with employee-first channels including Google G Suite, Microsoft Office 365, and WhatsApp to automate previously manual tasks associated with expense reporting, optimize productivity and harness analytics insights related to employee spend and corporate expenses.
The company, which serves more than 300 customers across over 20 countries, is also launching new WhatsApp integration to enable users to text an expense via WhatsApp and automatically create an expense entry. Additional features in the enhanced version of the platform will enable end-to-end enterprise-grade functionality with consumer-grade usability.