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Accounting and tax management platform Febi.ai raises $2 Mn

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Accounting and tax management platform Febi.ai has raised $2 million in a pre-Series A funding round co-led by Lumis Partners, Virender Rana, Lenskart co-founder Amit Chaudhary, Padmaja Ruparel, Cashkaro co-founder Rohan Bhargava, Rajat Jain, and other investors. The proceeds will be utilized to further advance its artificial intelligence capabilities to automate accounting and tax compliance processes, ramp up customer acquisition, and expand its workforce, Febi.ai said in a press release. Co-founded in 2022 by Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal, Febi.ai leverages AI technology to eliminate the hassles of manual data entry and errors in accounting and invoice verification. The platform automates documentation management and tax compliance while providing founders and entrepreneurs with real-time business insights to make informed decisions with greater confidence. The Gurugram-based company aims to solve real-time problems faced by teams and end users of existing accounting and tax compliance platforms. The platform claims to have been built by the chartered accountant community and will empower entrepreneurs and the CA community with real-time insights and effective ways to manage accounting and tax compliance functions. Febi uses a cutting-edge AI/ML platform, coupled with a team of seasoned domain experts, including CAs and personal accountants, to ensure seamless management of all accounting, tax compliance, and finance operations in real-time. It also leverages a dedicated personal accountant for strategic financial guidance and support.