Recordent Raises $400,000Funding will be invested primarily in technology and customer acquisition

Recordent, a fintech startup, announced it has raised $400,000 in angel funding from the Kantamaneni Family Office, IIM Calcutta Innovation Park and others.

Recordent will utilize the funds for development of its technology platform and customer acquisition. Its major focus areas will be collaborations with complementary fintech and banks. Recordent plans to continue establishing meaningful partnerships and to work towards reducing credit risk, said a statement.

"We are highly enthusiastic to welcome investors and companies to join our journey and contribute towards the strategic advancement of Recordent. We are focused on making business seamless and hassle-free for MSMEs along with credit profiling. The proceeds of the funding will help us strengthen our platform by harnessing the latest technologies," said WinnyPatro, CEO and co-founder of Recordent, in the statement.

"A large number of businesses continue to face a massive gap in cash flow and it is directly linked to the long-pending overdue invoices by their customers. There is an immediate need for businesses to first improve their collections and reduce credit risks to unlock future growth. Recordent is a perfect tech solution for this. We were an early client of Recordent and have benefited from the platform, so we decided to lead this round," said Gopala Krishna from Kantamaneni Family Office.

Launched in late 2020, Recordent is building APIs for accounting software systems. To further strengthen their presence and offer expansive solutions to businesses, Recordent is also gearing up for SMEs to conduct customer KYCs, added the statement.