SaaS buying and management platform, Spendflo has raised approximately ₹90.1 crores ($11 million) through its Series A fundraise.
The round was led by Naspers Ventures (Prosus), with participation from Accel, Together Fund, and certain other angel investors.
Argus Partners advised Spendflo and its promoters on this fundraise. The transaction involved unique challenges from the US and Indian legal and regulatory perspective, including relating foreign exchange regulatory matters and matters of US law.
The transaction team consisted of Abhinav Bhalaik (Partner), Armaan Patkar (Partner), Mayank Jhunjhunwala (Principal Associate), Ishita Agarwal (Associate) and Aakshay Amesur (Associate).
Spendflo, which serves customers across North America, Europe, Asia Pacific and the Middle East, helps fast-growing businesses buy, manage and secure SaaS through its all-in-one platform. Spendflo intends to utilize the current funding for product growth and global expansion with greater focus on the North American market.
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