HostBook Raises $3 Million in Series A Funding

FinTech startup HostBooks, which focuses on micro, small, and medium businesses, announced that it has raised $3 million in a Series A funding round led by full-stack financial services company Razorpay.

Hostbooks intends to use the raised capital to further expand its operations and enhance its existing product suite with the launch of new products that support order management, neo-banking, advanced inventory management, and AI-based business decision-making tools to better support the domestic customer base.

Through a single sign-on collaboration platform, HostBooks has transformed tedious back-end business processes such as MSME/SMB accounting and compliance. HostBooks has more than 250,000 businesses on its platform and has been able to reduce business costs by up to 70%. In addition to many features, HostBooks also offers an integrated e-Document management system with free cloud storage.

HostBooks was founded by Kapil Rana in 2017 and was early supported by Biswajit Mishra. The platform is a value chain of business functions, handling F&A, tax, GST, e-way bills, e-invoicing, banking, inventory management, order management, billing & invoicing cash & bank management, and business intelligence, BP portal, procurement & payroll.