Febi.ai, created by experts in their fields, has raised USD 2 million in Pre-Series A funding. The investment came from Lumis Partners and notable individuals like Virender Rana (JP Morgan, Ex-Managing Director-Payments), Amit Chaudhary (Co-founder—Lenskart), Padmaja Ruparel (Co-founder—IAN), Rohan Bhargava (Co-founder—Cashkaro), and Rajat Jain (Chairman Fino Payments Bank), among others.
Launched in 2022, Febi.ai combines the expertise of chartered accountants and technology professionals. The platform leverages AI to eliminate manual data entry and reduce accounting and invoice verification errors. It also automates documentation management and tax compliance, giving founders and entrepreneurs real-time business insights to make informed decisions confidently.
Febi.ai stands for Founders Entrepreneur Books Innovation. The name highlights the company’s commitment to innovation in finance and its entrepreneurial drive. With the new funds, Febi.ai plans to enhance its AI capabilities, automate accounting and tax compliance platforms, grow its customer base, and expand its team.
Founded by CA Amit Jindal, CA Saurabh Jain, Ashu Goel, and CA Rahul Bansal, Febi.ai is led by experts in finance. Amit Jindal and Saurabh Jain, both former Ernst & Young employees, have successfully grown Felix Advisory, a financial advisory firm with over 350 members.
Amit Jindal, a chartered accountant from India and certified public accountant from the USA, brings over 20 years of experience in accounting and tax compliance. He recognized the challenges finance professionals face with manual accounting and tax platforms through his past roles. He founded Febi.ai to address these real-time problems for teams and end users.
Amit Jindal, CEO, said, “It’s 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.
Sandeep Sinha, Partner at Lumis Partners, said, “Startups and MSMEs are the heart of the Indian economy. While handling business operations in competitive industries, taking care of finance and staying tax compliant can be a lot to manage for them. I believe Febi.ai can transform this as it takes the burden from their shoulders so they focus on high-priority work.”
Padmaja Ruparel, Co-founder of Indian Angel Network, shared her thoughts, “Febi.ai is an innovative software and has the full potential to be the industry leader in its space. As someone who has connected so closely with the Indian entrepreneurial ecosystem, it’s a great platform for businesses trying to stay on top of their tax compliance and financial management.”
Amit Chaudhary, Co-founder of Lenskart, said, “When entrepreneurs are building their business, investing time in doing accounting and finance is the last thing they want. Febi.ai helps them reduce manual work and use their time better.”
To strengthen Febi.ai’s technological expertise, Ashu Goel joined as the Chief Technology Officer (CTO). After spending 17 years at JP Morgan in Singapore, Ashu returned to India with his family to support Febi.ai’s mission. He aims to leverage AI to revolutionize startups, SMEs, and enterprises. This move highlights his strong dedication to solving real-world challenges in accounting and finance through innovation and cutting-edge technology.
