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FloBiz, Indias leading neobank for growing Small & Medium Businesses (SMBs) in India, has today announced that it’s flagship SaaS brand myBillBook has made it to the winners tally of 2022 Red Herring Top 100 Global Winners from North America, Europe, and Asia. The Top 100 Global list from Red Herring has earned distinction for spotting potential businesses and exceptional entrepreneurs. Thousands of the most interesting and innovative companies have graced the Top 100 list over the years.
The Red Herring editorial team evaluates participants/contestants on an eclectic mix of quantitative and qualitative factors, including market penetration, management quality, financial performance, and technological innovation.This assessment of potential is complemented by a review of the track records and standing of startups relative to their peers, allowing Red Herring to see past the hype and make the list a valuable instrument of discovery and advocacy for the most promising new business models from around the world.
Alex Vieux, publisher and CEO of Red Herring, said, “Choosing the companies with the strongest potential was by no means a small feat this year,” “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across the globe to the Top 100 Winners. We believe FloBiz embodies the vision, drive and innovation that define a successful entrepreneurial venture. FloBiz should be proud of its accomplishment as the competition was very strong.”
Speaking on the occasion, Rahul Raj, Co-founder & CEO, FloBiz said, “With myBillBook we have enabled lakhs of Indian SMBs to digitize their business operations and improve business productivity resulting in growth. Our success and experience as a billing and accounting software has fuelled up our journey to become the preferred neobank for SMBs. We would like to thank team Red Herring for this recognition and congratulate all team members for this achievement which places us along with some of the most forward-thinking and promising businesses from around the world. We look forward to keeping up our innovative work and providing top-notch results for everyone we work with.”
Recently, FloBizs myBillBook announced the addition of e-Invoicing capability to its billing module, which would strengthen myBillBooks advanced billing capabilities and support the generation of invoices that are compliant with the governments mandate on streamlining the tax process and enhancing tax planning. Currently, more than 65 lakh enterprises nationwide use myBillBook and generate an average monthly trade volume upwards of INR 12,500 Crore.
FloBiz is a neobank for small; medium businesses that aims to accelerate the growth of their enterprises through technology. Founded in 2019 by IIT BITS alumni, FloBiz is a fintech backed by renowned investors like Sequoia Capital India, Elevation Capital, Greenoaks Capital, Beenext and Think Investments. The startup is chasing the mission of digitisation to contribute to the building of an Aatmanirbhar Bharat by solving the most pressing problems of the Indian SMB sector. FloBiz launched its flagship product, myBillBook, in early 2020, and it has become one of the highest-rated business apps in India on the Google Play Store.