Febi.ai, an innovative platform specializing in accounting and tax management, has successfully secured $2 million in a pre-Series A funding round. This financing was co-led by notable investors, including Lumis Partners, Virender Rana, Amit Chaudhary (co-founder of Lenskart), Padmaja Ruparel, Rohan Bhargava (co-founder of Cashkaro), Rajat Jain, and others.
The funds will be directed towards enhancing the company’s artificial intelligence capabilities, aimed at automating accounting tasks and ensuring tax compliance. Additionally, Febi.ai plans to increase its customer acquisition efforts and expand its workforce, according to a statement from the company.
Founded in 2022 by Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal, Febi.ai utilizes advanced AI technology to streamline the accounting process, reducing the burdens of manual data entry and the potential for errors in invoice verification. The platform not only automates documentation management and tax compliance but also offers entrepreneurs and founders real-time business insights for more informed decision-making.
Based in Gurugram, the company aims to address the pressing issues encountered by teams and users of current accounting and tax compliance platforms. Febi.ai claims to have been developed with input from the chartered accountant community, empowering entrepreneurs and CAs with timely insights and efficient management of their accounting and tax obligations.
By harnessing a state-of-the-art AI and machine learning framework alongside a team of experienced professionals—including chartered accountants and personal finance advisors—Febi.ai ensures real-time management of all accounting, tax compliance, and financial operations. The platform also provides a dedicated personal accountant for strategic financial advice and support.