Febi.ai, a tech startup that automates accounting and tax compliance processes, said Friday it has raised $2 million (Rs 16.8 crore) in a pre-Series A funding round.
The round saw participation from Lumis Partners, former JP Morgan executive Virender Rana, Lenskart co-founder Amit Chaudhary, Indian Angel Network co-founder Padmaja Ruparel, Cashkaro co-founder Rohan Bhargava and Fino Payments Bank chairman Rajat Jain.
The startup plans to use the funds to advance its artificial intelligence capabilities to automate accounting and tax compliance platforms, acquire more customers, and expand its workforce, it said in a statement.
Febi.ai, owned and operated by Rivergo Automation Pvt. Ltd, was founded by Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal in 2022.
It offers transaction management through AI, automated file management, automated tax filings, smart invoicing and payments, and finance concierge services. The company is based in Gurgaon, Haryana.
Febi.ai integrates advanced AI/ML technology with a team of experienced domain experts, including chartered accountants and personal accountants, to ensure smooth management of accounting, tax compliance, and financial operations in real-time. Additionally, it offers a dedicated personal accountant for strategic financial guidance and support.