Hylobiz: Revolutionizing SME B2B Value Chain Digitization

Strategic Insights -

Hylobiz, a startup from Bengaluru, is leveraging Open API banking growth platform to provide seamless digitization of SME receivables, payables, and credit access. Founded in 2019 by Vishal Gupta, Ashish Mahal, and Lakshmi Tampi, the startup aims to build itself into an 'Amazon' of financial services for the SME value chain segment. By integrating with SME legacy tools and multiple banking infrastructure, Hylobiz enables SMEs to connect with banks digitally and seamlessly, without undergoing any new systems adoption.

Key Takeaways:

  • Hylobiz uses a micro-services architecture based neobanking platform that seamlessly connects with SME legacy tools (accounting, invoicing, ERP) on one end and the multiple banking infrastructure, financial services access, and third-party integrations on the other end.
  • The startup digitises end-to-end transactions by picking up invoicing information at a transaction through seamless API-based integration from the SME tools, expediting the collection time and increasing working capital efficiency by 40 percent.
  • Hylobiz has already integrated with five top private banks and three SMEs processes automation platforms, and has a plan to reach 10 integrations with ERPs and banks for the two corridors of India and UAE.
  • The startup's revenue model is based on setup cost plus a SaaS Fee / Month + Transactional fee, with three revenue streams based on SME business size.
  • Hylobiz has a plan to build a 20,000 active SME base on startups across India and UAE corridors, and aims to reach a revenue of $3 million ARR by next year-end.

Statistics:

  • The typical delays on receivable is 90 days in India, and the working capital cycle average at 300 days according to reports available with the RBI.
  • Hylobiz expedites the collection time and increases working capital efficiency by 40 percent.
  • The startup has already integrated with five top private banks and three SMEs processes automation platforms.
  • Hylobiz aims to reach 10 integrations with ERPs and banks for the two corridors of India and UAE.

Sources:

  • "Hylobiz: Revolutionizing SME B2B Value Chain Digitization" by YourStory Media Private Limited, distributed by Contify.com
  • Interview with Vishal Gupta, Co-founder of HyloBiz.
  • RBI reports on working capital cycle.
  • Hylobiz website and marketing materials.