Enterprise SaaS fintech firm HostBooks has successfully raised $5 million in funding from Orange Orbit, with an initial allocation of $2.5 million already completed. This funding is part of a larger $15 million Series B funding round, as indicated by the company.
Investment Insight
Umang Nahata and Rakesh Raman, Managing Partners at Orange Orbit, conveyed their excitement, stating, “We resonate with HostBooks’ vision and share a commitment to enhancing the experiences of global customers as they navigate business automation and AI transformation. Our extensive market expertise and a successful history in developing and scaling businesses in similar sectors give us confidence that HostBooks is well-positioned for global success.”
Fund Allocation and Future Plans
The funds acquired will be allocated towards:
- Expanding international operations
- Advancing product development
- Incorporating cutting-edge AI-driven modules
- Enhancing the sales, marketing, and operational teams
Established in 2009 by Biswajit Mishra and Kapil Rana, HostBooks provides cloud-based solutions that help businesses address compliance, accounting, finance, and operational challenges. In 2022, the company raised $3 million in a Series A funding round led by the renowned fintech company Razorpay.