Georgian fintech Kernel raises $30K at Shark Tank show

The Tbilisi-based fintech Kernel has raised $30,000 at Shark Tank, a popular pitch show in the US. The funding will allow the startup to grow in the Philippine and Indian markets, Caucasus Business Week reports.

• Founded in 2019 by Beka Dalakishvili, Misho Zghuladze, and Giorgi Tukhashvili, Kernel develops a platform with financial tools for small businesses and freelancers. The solution helps to deal with managing accounting documents and processes, as well as calculating taxes and forecasting.
• Kernel’s main product is a digital invoicing platform that allows users to easily create and send invoices. The company operates in three countries — Georgia, the Philippines, and India. The startup already has more than 30,000 registered customers.
• The investment was made at Shark Tank. It is a business TV show where entrepreneurs make business presentations to a panel of several investors or “sharks,” who then decide whether to invest in their company.
• The startup will use the fresh funding to cover operating costs and product development. Kernel also plans to develop its mobile app in the Philippines and India.