Fyle is a next-generation spend management platform for businesses that employees actually love using. It is the modern expense management software that earns you time, money and employee love.
Fyle comes with plugins that makes the entire process of fyling an expense similar to liking a post on facebook.
Fyle was founded in 2016 by Yashwanth Madhusudan & Sivaramakrishnan Narayanan. The company is headquartered in Bangalore, Karnataka.
Fyle links email, consumer apps and other platforms to simplify recording, sharing and processing of expenses and invoices within an organization. With Fyle, users can capture their spend data the moment they complete the transaction with a single click.
Fyle uses Machine Learning algorithms to make the invoices readable, searchable and processable and to flag suspicious ones. The company incorporates enterprise workflows to ensure that the expenses are approved by the right people in the organization and pushed to payment and accounting automatically.
Fyle has created the world's first automated data extraction engine for emails that works across G-Suite and Outlook clients that captures information like Amount, Merchant Name, Category along with the attached invoice automatically.
Fyle is backed by Steadview Capital, Tiger Global, Freshworks, Pravega Ventures and others. The company raised $4.5M tranche of investment on Oct 3, 2019, dubbed Series A1, with the recent investment the startup raised $8.7M as part of its "Series A" ffinancing. This brings Fyle's total funding to $10.5M to date.