FloBiz said the capital will be deployed for team expansion, product development and scaling distribution to serve more businesses. : FloBiz, a neobank for the growing Indian SMBs, has raised $31 million in Series B round, led by Sequoia Capital India, Think Investments and its existing investors - Elevation Capital and Beenext. FloBiz said the capital will be deployed for team expansion, product development and scaling distribution to serve more businesses. The company is also preparing to venture into the “financial services” sector soon.