News: Fyle bags $4.5 Million investment

HR Technology

Fyle bags $4.5 Million investment

Since its inception, the three year old company has received a total equity funding USD 10.5 Mn.
Fyle bags $4.5 Million investment

The AI-powered expense management software Fyle, has received an additional  USD 4.5 Mn in venture capital investment from U.S.-based hedge fund Steadview Capital following its Series A round. As of now, the three year old company has recieved a total equity funding USD 10.5 Mn. The participating investors include Tiger Global, Freshworks, and Pravega Ventures. 

Fyle is an AI-powered expense management platform is built to offer enterprise-grade functionality with a consumer-grade user experience. Its cloud-based integrated system that enables users to file an expense within Google G Suite and Microsoft Office 365, enabling automated expense reporting directly from user email inboxes. Fyle’s AI technology extracts data automatically and with a policy ingestion engine at its core, anomalies and fraudulent behavior are detected in real-time to ensure compliance with corporate policies and regulatory requirements.

“We’re very excited to bring on Steadview as a financial partner as we’re aggressively expanding our market presence in the U.S. and UK to meet customer demand,” said Yash Madhusudhan, CEO and co-founder of Fyle.

“We’ve created a customer-first culture and with this additional financial backing, we’ll be able to continue to execute on product innovation to deliver a truly automated process for expense management, saving precious time for employees and ensure continuous compliance for the company.” 

Topics: HR Technology

Did you find this story helpful?



Is India Inc ready to support the gig economy?

On News Stands Now

Subscribe now to the All New People Matters in both Print and Digital for 3 years.


And Save 59%

Subscribe now

How likely are you to recommend our content to a friend or colleague?

Selected Score :