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About

Fyle is a digital transaction platform that solves the problem of business expense reporting and management. Fyle integrates with email, consumer apps and other transaction platforms to automate expense filing.

MEDICI Analysis

Fyle is a AI based digital transaction platform that solves the problem of business expense reporting and management. For business users, It offers expense tracking of employees, automated compliance and analytics for insights. The receipt management helps them in receipt categorizing and storing it in the cloud.

Focus

PRODUCTS & SERVICES

Fyle provides an online expense management platform for individuals, teams and enterprises. It automates receipt tracking, reports and reimbursement for employees. For employees, It automatically enables reimbursements solution, compliance and control. For enterprises, It enables custom policies, automatic compliance checks, grading-based approval workflows and reminders solutions. It also allows them to integrate with the accounting software.

REVENUE MODEL

Revenue from monthly subscription cost. Fyle also has customizable offerings for enterprises.

MAIN CLIENTS

HeroFincorp

Investec

Capillarytech

Teach For India

RPG group,Dense Light,Freshworks,Lavva

PRIMARY PROBLEM SOLVED

The unique ML powered data extraction technology extracts data from any kind of receipt, with a single click for expense tracking for employees across companies.

COMMENT

The company has introduced several innovations in the field, including a first-of-its-kind data extraction engine that can identify and reproduce data from any kind of receipt with a single click. It has also integrations with Microsoft Outlook and GSuite, it helps employees to file any expense with a single click without any kind of manual data entry. The company aim is to automate and streamline this entire experience for businesses. (Apr. 2018)

People

FOUNDERS

Yashwanth Madhusudan

Sivaramakrishnan Narayanan

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Ambrish Tyagi

Beenext

Bharati Balakrishnan

Freshworks

Girish Mathrubootham

Joydeep Sen Sarma

Kedar Gavane

Panindra Sama

Pravega Ventures

Richa Kar

Sravish Sridhar

Steadview Capital

Tiger Global Management

KEY EMPLOYEES:

Abhinav G(CA)

Pratik Sagar Mishra(Prduct Manager)

Vasanth Kumar(manager-Content Marketing)

Momentum

FUNDED

YES

TOTAL FUNDING

$5.6 M

DATE OF LAST FUNDING

Oct 2019

TOTAL FUNDING COMMENT

The company is planning to use the fund to expand its sales and marketing efforts and also invest in R&D to serve its customers better. (Apr. 2018)

SEED & PRIOR FUNDING

$1.1 M

SEED CLOSED ON

Apr 2018

FUNDING SERIES

SERIES A  · $4.5 M  · Oct 2019

LISTED

NO

BASICS

FOUNDING YEAR:

2016

LOCATION:

India

Views:

141 VISITORS | 284 VIEWS
LATEST FUNDING ROUND

$5.6 M

TOTAL EMPLOYEES
11-50

About

Fyle is a digital transaction platform that solves the problem of business expense reporting and management. Fyle integrates with email, consumer apps and other transaction platforms to automate expense filing.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Fyle is a AI based digital transaction platform that solves the problem of business expense reporting and management. For business users, It offers expense tracking of employees, automated compliance and analytics for insights. The receipt management helps them in receipt categorizing and storing it in the cloud.

Focus+
Momentum+
People+
Other+

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Fyle

About

Fyle is a digital transaction platform that solves the problem of business expense reporting and management. Fyle integrates with email, consumer apps and other transaction platforms to automate expense filing.

Focus

PRODUCTS & SERVICES

Expense management platform for individuals, teams and enterprises. Fyle provides employees a single platform to file expenses through a plugin that automatically extracts and classifies data from bills inside emails and paper receipts. Fyle's app also allows to scan paper receipts and bills.

REVENUE MODEL

Revenue from monthly subscription cost. Fyle also has customizable offerings for enterprises.

TOP PROBLEM SOLVED

AI Powered Enterprise Expense Automation eliminating manual work from the entire process of employee expense reimbursement.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

AI powered Automated Data extraction from Images, PDFs, Email and Text with a single click. Auto classification. Duplicate and Fraud Detection

Momentum

FUNDED

YES

TOTAL FUNDING:

$400 K

LISTED

NO

FUNDING SERIES
Seed Jun 2016 --- USD400 K at a USD5 Mvaluation Comment on Seed convertible debt round

Comment on Valuation

cap