Annulus Technology Private Limited

Annulus Technology Private Limited offers a UPI-driven digital wallet solution for managing employee petty expenses, enhancing financial management and oversight for organizations. Founded in 2020 and headquartered in Gurgaon, India, Annulus Technology Private Limited specializes in digital wallet services for businesses. The company raised INR 170 million in Seed funding in September 2021, co-led by Better Tomorrow Ventures and JAM Fund. The firm has executed 2 deals overall, with the latest round reflecting its commitment to enhancing its product offerings.

CashBook primarily provides a UPI-powered digital wallet solution that allows businesses to manage employee petty expenses through issued digital wallets. This service includes defined spending limits and facilitates seamless transactions for everyday expenses, catering to over 500 businesses across various sectors in India, with potential expansion into South Asia. In the most recent financial year of 2023, CashBook generated revenue of INR 834,836. 4 with an EBITDA of -INR 20,275.

The revenue model relies on B2B subscriptions, where businesses pay for tiered access to the digital wallet services, which include features like transaction reporting and security measures. Following its Seed funding round in September 2021, Annulus Technology Private Limited plans to enhance its product suite and expand its reach across India. The funding will support efforts to improve its offerings and facilitate expansion into new markets, targeting the growing demand for digital wallet solutions in the region.