Startup Atlas · Fintech

FloBiz

● Bengaluru, Karnataka ● Founded 2019 ● flobiz.in ↗

Rahul Raj · Co-founder & CEO Rakesh Yadav · Co-founder Aditya Naik · Co-founder

$44 MnTotal funding (tracked)

3Funding rounds

20 Sep 2021Last round

FloBiz: Business Model Canvas

The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.

Value Propositions

Powerful invoicing & accounting for the small business owner source

GST-compliant mobile invoicing

myBillBook lets business owners create customizable, GST-compliant invoices from their phone.

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Customer Segments

Small & medium business owners across the value chain

Distributors, wholesalers, traders and retailers who need mobile billing/invoicing.

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3M+ merchants on the platform3M+ businesses / $6B annualized transactions

Scale of SMB user base as of March 2021.

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Customer Relationships

Self-serve, habit-forming product

Owners discover the app on their own and return weekly, making it their primary invoicing tool.

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Channels

Mobile Android app — myBillBook

Core distribution is a free/self-serve mobile app for GST invoicing, receivables tracking and stock management.

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WhatsApp integration

Invoices and reports can be shared with customers, accountants and staff directly via WhatsApp.

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Multi-language regional support

App available in Hindi, Gujarati, Tamil and English to reach regional SMB owners.

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Key Activities

Invoicing, expense tracking and payments management source

Key Resources

Proprietary in-house AI stack (speech, vision, agents, reasoning)

FloBiz has built in-house AI capabilities running in production, including speech-to-text/text-to-speech tuned for Indian languages and Gulf Arabic, plus document reading for handwritten and thermal-print supplier bills.

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Modern polyglot engineering stack

myBillBook and FloBiz's related products are built on a broad technology stack spanning web, mobile and backend infrastructure.

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Founding team's prior expertise from Bizongo and Koinex

Co-founders Rahul Raj, Rakesh Yadav and Aditya Naik met while working at B2B sourcing company Bizongo, where they learned Indian SMB supply chains firsthand, and had previously founded Koinex, a large Indian digital asset exchange.

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Key Partnerships

MongoDB Atlas — core database & sync infrastructure partnerUpdate transaction speed improved 90%

FloBiz has been a MongoDB customer since 2019, migrating myBillBook off PostgreSQL onto MongoDB Atlas with Realm/Atlas Device Sync and Atlas Charts to handle multi-platform, online/offline data sync for SMB users; MongoDB reports this cut update-transaction times by 90% and CPU load by 50%.

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Manoj Bajpayee — brand ambassador partnership

FloBiz signed Padma Shri actor Manoj Bajpayee as brand ambassador for myBillBook, fronting the 'Business Ko Le Seriously' campaign of ads addressing SMB invoicing, receivables and inventory pain points to build brand trust and accelerate SMB outreach.

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Revenue Streams

SaaS subscription fee

The depth of usage among SMB customers allows FloBiz to monetize via a subscription fee on top of the core app.

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Cost Structure

Total operating expenses ₹33.4 Cr in FY24Total expenses ₹33.4 Cr, down 13% YoY

FloBiz's legal entity Valorem Stack Private Limited reported total expenses of ₹33.4 Cr in FY24, down 13% year-on-year, against revenue of ₹38.9 Cr, yielding a profit after tax of ₹4.1 Cr and EBITDA of ₹6.3 Cr.

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FAQs on FloBiz

What is FloBiz's business model?

FloBiz's core value proposition centers on Powerful invoicing & accounting for the small business owner, GST-compliant mobile invoicing.

How does FloBiz make money?

FloBiz's cited revenue streams include SaaS subscription fee.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the "source" links beside each entry. Profile sources: www.elevationcapital.com · Last verified 24 Aug 2026. · Report a correction