FloBiz raises $31 mn in Series B; Paytm & CRED Founders invest too

FloBiz, a neobank startup that helps digitise small and medium businesses, has raised $31 million in a funding round led by Sequoia Capital India and Think Investments. The Series B round saw participation from existing investors Elevation Capital and BEENEXT. High-profile entrepreneurs, including Paytm Founder Vijay Shekhar Sharma and CRED Founder Kunal Shah, also backed the two-year-old startup.