Feb.ai, an Indian startup specializing in the automation of accounting and tax compliance, has raised $2 million in a pre-Series A funding round. This round was led by a group of prominent investors, including Lumis Partners, Virender Rana (ex-Managing Director of Payments at JP Morgan), Amit Chaudhary (Co-founder of Lenskart), Padmaja Ruparel (Co-founder of Indian Angel Network), Rohan Bhargava (Co-founder of Cashkaro), and Rajat Jain (Chairman of Fino Payments Bank).
Founded in 2022 by CA Amit Jindal, CA Saurabh Jain, Ashu Goel, and CA Rahul Bansal, Feb.ai leverages artificial intelligence to streamline accounting processes by eliminating manual data entry, reducing errors, and automating tasks such as invoice verification and tax compliance. The startup aims to provide entrepreneurs with real-time business insights, enabling better decision-making.
The newly acquired funds will be used to further develop Feb.ai’s AI capabilities, expand its customer base, and grow its workforce. Amit Jindal, who co-founded the startup, brings over two decades of experience in the field and is committed to addressing the challenges faced by finance professionals through advanced technological solutions. Ashu Goel, the CTO, previously worked with JP Morgan in Singapore and returned to India to support Feb.ai’s mission.
Sandeep Sinha, Partner at Lumis Partners, expressed confidence in the startup’s potential, noting that it can alleviate the burdens of finance management for startups and SMEs. Padmaja Ruparel also praised the innovative platform, highlighting its potential to become a leader in the industry.
