Bangalore: Valyx, an AI-powered platform that automates B2B revenue and receivables management, has secured $800,000 in a pre-seed funding round. The investment was co-led by Huddle Ventures and Waveform Ventures, with participation from Bharat Founders Fund and Propell Fund.
Valyx, founded in late 2023, aims to streamline the often complex and time-consuming processes of billing and collections for businesses. The platform offers a suite of features including rate card management, usage-based billing, collections, cash application, reconciliation, dispute management, and collaborative receivables tracking. By automating these tasks, Valyx allows finance and sales teams to focus on core business activities and building customer relationships.
The Bangalore-based startup was founded by Avishek Ray and Anirudh Bhargava, who have extensive experience in revenue automation, receivables management, and business payments from their time at companies like Stripe, Amazon, SAP, Morgan Stanley, and Deloitte. They recognized the challenges businesses face in managing their revenue and receivables and built Valyx to address these pain points.
“At Valyx, we’re addressing a critical pain point in financial operations,” said Avishek Ray, Founder of Valyx. “Many businesses struggle with time-consuming, repetitive tasks in managing their revenue & receivables. Our vision is to liberate finance and sales teams from these daily burdens.”
Valyx has already processed over INR 200 crore in accounts receivable and has helped businesses get paid up to 30% faster and close their books more efficiently. The company plans to use the new funding to expand its sales and engineering teams and accelerate its product roadmap.
Ishaan Khosla, Partner at Huddle Ventures, commented on their investment, “Solving for receivables management opens up an entire world of possibilities within the cash flow management suite for Valyx. Mid-market and enterprise clients are eager to optimise their manual collections workflow with Valyx, and we’re excited about their growth journey from hereon.”
Valyx’s clients have already seen the benefits of the platform. Rahul Mandowara, Finance Director at Fynd.com, said, “Previously we would send hundreds of collection emails manually and now that’s all thankfully gone! Valyx allowed us to personalise and automate our collection follow-up saving many hours for our finance team while ensuring timely follow-ups.”
Valyx’s vision is to empower businesses by automating billing, accelerating receivables, expediting financial close, and optimizing cash flow. In the next two years, the startup plans to build a full-stack AI-powered revenue management platform that includes B2B payments and financing.
