Cashbook raises $2.3 mn in seed funding

Y Combinator-backed cash management startup Cashbook has raised USD 2.3 million (about Rs 17 crore) in seed funding led by venture capital funds JAM and Better Tomorrow Ventures. Angel investors like Kunal Shah, Anupam Mittal and a host of others also participated in the round.

Launched in August 2020, Cashbook helps small businesses track their income and expenses through their mobile app.

The startup claims over 1 million downloads so far as it offers a simple and reliable solution for digital record keeping, Vivek Kumar, co-founder and chief executive, said.

The funds will be used to enhance the product and expand its reach, Kumar added.

Cashbook is a digital record-keeping app, and by using it, businesses can add entries, segregate records, and find overall balance instantly.