Flowaccount

wealthtech (retail)personal finance managementb2b fintech

FOUNDING YEAR: 2014
LOCATION: Thailand
Last Update: 01/05/2020

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About

FlowAccount is a cloud-based accounting software platform for SMEs to manage their expenses. This platform helps SMEs to manage their expenses by uploading pictures of the invoice, receipts, etc. It creates and sends professional invoices, track payments, and collaborates with partners. It was one of the finalists in Echelon Asia Summit in 2015. The company has won the AIS the Startup 2015, Frost & Sullivan Thailand Companies to Action Award 2017, and Innovation Coupon 2017.

Focus

PRODUCTS & SERVICES

Flowccount.com, the cloud accounting software provides various features as Invoicing, inventory, expenses, reports, FastPay, mobile, and simple payroll solution. FlowAccount comes with beautiful templates to easily create quotations, billing notes, tax invoices, purchase orders as well as withholding tax documents. FlowAccount’s simple inventory solution helps to keep track of the stock levels and knows when to reorder. FlowAccount keeps track of a company’s expenses and categorizes them according to the company’s spending activities. FlowAccount comes with simple reports that are easy to understand. View sales, inventory, and profit & loss reports monthly or annually. FastPay allows users to push payment information from their FlowAccount directly to Kasikorn Bank’s K PLUS SME mobile application so you can instantly pay your suppliers With the mobile app, one can easily create quotations, invoices & receipts on the go or take photos of receipts to keep track of expenses. A simple solution is also provided to manage payroll. Employees can easily pay with the K PLUS SME integration.

REVENUE MODEL

The company follows a membership subscription revenue model. It generates revenue by charging membership fees. Premium use starts with 83 baht/month (990 baht per year).

MAIN CLIENTS

Major clients include small- and medium-scale enterprises.

COMMENT

This online cloud application serves businesses for up to 10 users; today, the program is being used by more than 5,000 users.

Traction

ACTIVE USERS COMMENT:

The company has 10,000+ active users generating over 100,000 tax invoices per month(Aug 2017).

People

FOUNDERS

Kridsada Chutinaton

Wicky Srikuruwal (Founding Partner)

INVESTORS:

500 Tuk Tuks

Beacon VC

Golden Gate Ventures

Kasikornbank’s venture capital arm

SBI Investments

Momentum

FUNDED

YES

TOTAL FUNDING

$1.15 M

DATE OF LAST FUNDING

Aug 2017

TOTAL FUNDING COMMENT

The company is planning use the fund for its team expansion and product development, and also with an aim to continue expanding their customer base and growing the business in Thailand (Aug 2017).

SEED & PRIOR FUNDING

$1.15 M

SEED CLOSED ON

Aug 2017

SEED PRIOR FUNDING COMMENT

An undisclosed seed fund raised in 2016.

LISTED

NO

BASICS

FOUNDING YEAR:

2014

LOCATION:

Thailand

Views:

59 VISITORS | 194 VIEWS
LATEST FUNDING ROUND

$1.15 M

About

FlowAccount is a cloud-based accounting software platform for SMEs to manage their expenses. This platform helps SMEs to manage their expenses by uploading pictures of the invoice, receipts, etc. It creates and sends professional invoices, track payments, and collaborates with partners. It was one of the finalists in Echelon Asia Summit in 2015. The company has won the AIS the Startup 2015, Frost & Sullivan Thailand Companies to Action Award 2017, and Innovation Coupon 2017.

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