HostBooks bags $5M funding led by Orange Orbit
The fresh capital will be allocated to expand its global footprint, fuel product development, adopt advanced AI-driven modules, and strengthen its sales, marketing, and operations teams.
Enterprise SaaS fintech firm has raised $5 million from Orange Orbit, with the first tranche of $2.5 million already disbursed. This investment is also a part of a larger $15 million Series B funding round, said the company in a statement.
“We align with HostBooks’ vision and share its fervor for serving and delighting global customers on their journey of business automation and AI transformation. We possess extensive market knowledge and have successfully built and scaled businesses in a similar segment. Combining our deep market expertise with HostBooks’ comprehensive and robust business automation platform, we are confident that HostBooks is strategically positioned for global success,” said Umang Nahata and Rakesh Raman, Managing Partners at Orange Orbit.
The fresh capital will be allocated to expand its global footprint, fuel product development, adopt advanced AI-driven modules, and strengthen its sales, marketing, and operations teams.
Founded by Biswajit Mishra and Kapil Rana in 2009, HostBooks provides cloud-based solutions to help businesses manage compliance, accounting, finance, and operational challenges. In 2022, it raised $3 million in a Series A funding round led by fintech major Razorpay.
Edited by Megha Reddy