The funding was co-led by Huddle Ventures and Waveform Ventures. The spherical additionally noticed participation of buyers corresponding to Bharat Founders Fund and Propell Fund.
Valyx, based in late 2023, automates billing and receivables to speed up funds and enhance money movement for companies. Its choices embody price card administration, usage-based billing, collections, money software, reconciliation, dispute administration and collaborative receivables monitoring.
By implementing Valyx’s options, companies have been in a position to remove manpower to fill in Excel sheets, says the corporate. It has freed up a whole lot of hours of manhours beforehand spent on figuring out how a lot to invoice, and following up with patrons for funds or manually evaluating financial institution statements to reconcile funds.
Earlier than this funding, Tracxn had valued the startup at $3.63 million as on December 29, 2023.
The startup was established by Avishek Ray and Anirudh Bhargava, who’ve expertise in income automation, receivables administration and enterprise funds. The duo have labored in Stripe, Amazon, SAP, Morgan Stanley and Deloitte. They are saying Valyx will use the funds to develop. “Our fast focus is on crew constructing and accelerating our product street map,” says Ray. “Our goal is to handle $1 billion in receivables throughout the subsequent 18-24 months. Our imaginative and prescient is to evolve Valyx right into a full-stack AI-powered income administration platform that not solely automates billing and accelerates receivables but additionally optimises your entire money movement cycle for companies.”The startup claims to have dealt with over Rs 200 crore in accounts receivables.
On what units Valyx other than different B2B receivables automation platforms, Ray says, “We’ve got constructed a complete monetary administration answer that addresses the real-world challenges confronted by finance and gross sales groups. What really units us aside is our holistic method to your entire income cycle. From price card administration and usage-based billing to collections and dispute decision, we’ve automated all of it.”
He says their AI-powered platform is the fruits of years of expertise of the co-founders. “We’ve seen firsthand the frustrations of guide Excel monitoring, the complications of reconciling funds, and the time sink of chasing excellent dues. That’s why we now have designed Valyx to remove these ache factors. By leveraging synthetic intelligence and integrating seamlessly with current ERP and cost techniques, we’re in a position to speed up funds by as much as 30% and considerably pace up the monetary shut course of. However what actually excites me is how we’re releasing up a whole lot of hours of guide effort.”
Ishaan Khosla, Associate at Huddle Ventures, says Valyx has proven a possible to resolve receivables administration. “Mid-market and enterprise purchasers are wanting to optimise their guide collections workflow with Valyx, and we’re enthusiastic about their progress journey,” he provides.
Valyx says it envisions empowering companies by specializing in 4 core aims: automating billing, accelerating receivables, expediting monetary shut and optimising money movement. Over the following two years, the startup intends to construct a full-stack AI-powered income administration platform that features B2B funds and financing.