Hyderabad-based fintech startup HighRadius has secured $50 million (Rs 321.51 crore) in funding from Susquehanna Growth Equity, a private equity and venture capital arm of Susquehanna International Group, LLP. Post investment, Amir Goldman and Ben Weinberg from Susquehanna Growth Equity will join the HighRadius board of directors.

The startup will use the funds in its continuous growth and expansion of its global presence.

Founded in 2006, HighRadius is a fintech enterprise Software-as-a-Service (SaaS) company and currently employs over 500 people across the US, India, and Europe and works with Global 2000 companies, including adidas, Starbucks, Procter & Gamble, Reckitt Benckiser, Johnson & Johnson, Warner Bros, Danone, Sysco and Zurich.

"We have more than 350 clients on our Integrated Receivables platform powered by our Rivana Artificial Intelligence engine... This funding will help us accelerate our platform to thousands of companies globally" said HighRadius Founder and CEO Sashi Narahari in a release issued here on Tuesday.

The HighRadius Integrated Receivables platform optimizes cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing. Notably, Integrated Receivables is a new treasury management solution to consolidate all incoming receivables including electronic and paper-based transactions.

Powered by the Rivana Artificial Intelligence Engine and Freda Virtual Assistant for Credit-to-Cash, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate decision making and future outcomes.

Amir Goldman, Founder and Managing Director, Susquehanna Growth Equity, said: “Integrated Receivables is an $11-billion market in the early stages of adoption. We love backing bootstrapped companies like HighRadius, which has never raised outside funding, has grown at a 70 per cent CAGR, and continues to be cash-flow positive.”

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