Peakflo, which develops automation software to streamline invoicing, has nabbed $4.1m in its seed round.
Commitments to the round came from Y Combinator, Rebel Fund, Amino Capital, Soma Capital, GMO Fintech Fund, CE Fintech Capital, GFC and EF. Several angel investors also joined the round, including Oliver Jung, Amrish Rau, Alexander Kudlich and XA network.
The FinTech company launched in 2021 and provides businesses with a unified workspace with integrations and automated workflows that streamline invoice collections and bill payments.
Its services are currently used by 50 startups and mid-sized companies in Southeast Asia. Peakflo claims these clients have been able to be paid faster by up to 20% and cut bill pay times in half.
The platform enables teams to create purchase quotes and streamline approval processes before sending to the vendor. It also automatically captures invoice details.
Peakflo co-founder and CEO Saurabh Chauhan said, “We are grateful to our investors for their belief in our team and vision. We are delighted to have them on board as we build a centralised finance operations software for mid-sized companies and growth stage startups in SE Asia.
“Traditionally, finance operations workflow is split across fragmented silos: ERPs, banks and spreadsheets, leading to an expensive and cumbersome receivables and payables process. Peakflo helps these companies spend more time on growing their business and less on managing collections and payouts.”
Fellow accounting platform Autobooks recently collected $50m for its Series C funding round. Its platform supports digital invoices, payment acceptance and automated accounting directly within internet and mobile banking.
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