Hylobiz – A Bengaluru-based startup that has transformed banking for SMEs


The biggest challenge for many small and medium business owners is the dynamism of technology and adoption of new processes to remain competitive in the markets. Presently, many SMEs continue to use legacy software products which cannot connect them with the bank or their financial institutions. As a result, they do not have real-time information of their cash position, making it difficult to make financial decisions.

A Bengaluru-based startup named Hylobiz is changing this for businesses. Founded by Vishal Gupta, Ashish Mahal, Anurag Rastogi and Lakshmi Thampi, the organization has created a digital product which offers seamless API-based integration with the existing financial tools used by SMEs.

It automates a range of processes involved in the collection of payments helping businesses enjoy the better cash flow without expending more resources.

Since the tool works with current systems used by SMEs, it does not require business owners to consider the process of changing any of their existing systems or tools. This makes Hylobiz a hassle-free solution for SMEs who aim to reduce the efforts that go into collecting payments.

Right now, many businesses depend on sending manual reminders to the buyers based on the credit period offered to them. They must manually track payments, reconcile them on accounting systems, and make manual calls for payments.

Hylobiz changes this by triggering automated reminders when payments are due. When payments are made, then Hylobiz tracks these payments and reconciles them on a real-time basis, relaying the information to existing accounting software.

Additionally, partner banks can use the information of an SME’s payables and receivables to provide them with financial products like access to credit options, inventory insurance, or business loans. Hylobiz competes with IT giants like Microsoft and Oracle, who have their own banking platforms.


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