Product Teardown - Flobiz
FloBiz is a neobank for SMBs backed by renowned investors like Sequoia Capital, Elevation Capital, and Beenext. Its mission is to accelerate the growth of Indian small- and medium-sized businesses through digitisation.
FloBiz's main product, called myBillBook — helps SMBs digitise their invoicing, streamline business accounting and automate workflows of their enterprises. With over a million MAUs, SMBs now record over $1 billion worth of transactions on myBillBook every month.
The problem statement for this edition of the teardown:
SMEs in India do not make all their bills on a digital billing platform, some would be making 20-30% digitally while for some this number could be 80-90% as well. The reasons for not making 100% of their bills tend to range from usability issues and high effort of digital billing to non-GST(kachcha billing) and customers not requiring one. What changes would you make in the MyBillBook app to push SMEs to make all their bills on the platform?
Timeline for this month's teardown:
- Slack AMA- December 14
- Deck Submission- December 25
- Deck Day- December 28
What's in this for the winners? 🤩
✅ Cash prizes worth INR 50K!
✅ Direct interview for product roles at Flobiz