Enterprise SaaS fintech firm $5 million has been raised from Orange Orbit, with the first installment of $2.5 million already disbursed. The investment is also part of a larger $15 million Series B funding round, the company said in a statement.
“We are aligned with HostBooks’ vision and share their enthusiasm to serve and delight global customers on their business automation and AI transformation journeys. We have extensive market knowledge and have successfully built and measured businesses in the same 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 of Orange Orbit.
The new capital has been allocated to expand its global footprint, develop fuel products, adopt advanced AI-powered modules and strengthen its sales, marketing, and operations teams.
Founded in 2009 by Vishwajit Mishra and Kapil Rana, 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 RazerPay.