Tiger Global leads Series A round in Fyle

Expense management start-up Fyle has scooped up $4.2 million (Rs 30 crore) in its Series A round led by Tiger Global. The Bengaluru-based start-up also saw the participation of existing investors - Pravega Ventures and Beenext in this round. Pravega, Beenext along with Girish Mathrubootham-led Freshworks had participated in $1.1 million round in Fyle in April last year. The development comes two months after media reports suggested the comeback of Tiger Global in India with funding in Fyle along with facilities management software maker Facilio. The investment also marked Tiger Global's third bet on Indian start-up after a gap of three years and raising $3.75 billion worth 11th fund. Founded in 2016 by Yashwanth Madhusudan and Sivaramakrishnan Narayanan, Fyle provides an easy solution for individuals, businesses, and non-profits to keep track of their expenses. The start-up integrates with the enterprise system smoothly and users can receive relevant data and information on Microsoft's Outlook page instantly. The company also operates a US subsidiary which it launched in 2016 and has expanded its footprint to Netherlands and Singapore.