HostBooks, a SaaS-based accounting startup, has raised $5 million from Orange Orbit, with the first tranche of $2.5 million already disbursed. This funding is a part of the larger Series B round of $15 million.
The funds raised will be used to scale its presence in international markets, enhance and expand its product offerings, adopt advanced AI-driven modules and strengthen teams across sales, product marketing and operations.
Previously, the startup raised $3 million in a Series A round led by Razorpay in 2022 and expanded to the UAE in 2023.
“We align with HostBooks’ vision and share its fervor for serving and delighting global customers on their journey of business automation and AI transformation. Combining our deep market expertise with HostBooks’ comprehensive and robust business automation platform, we are confident that HostBooks is strategically positioned for global success,” said Orange Orbit LLP’s managing directors’ Umang Nahata and Rakesh Raman.
Founded in 2009 by Kapil Rana and Biswajit Mishra, HostBooks provides cloud-based solutions to help businesses manage compliance, accounting, finance, and operational challenges. The startup leverages artificial intelligence and machine learning to empower entrepreneurs with streamlined operational control.
In 2023, HostBooks expanded its offerings to the UAE, marking a significant milestone in its international growth.
