ZenStatement, an artificial intelligence-powered finance automation platform, has successfully closed a $1.6m seed funding round.
The investment was led by 3One4 Capital and Boldcap VC, with additional contributions from Dynamis Ventures and Atrium Angels, according to aa report from The Economic Times.
The company, founded in 2023 by Sourabh Nolkha and Ankit Narsaria, has made a significant mark with its innovative financial analytics and cash flow management solutions.
The funding will be channelled towards expanding ZenStatement’s product range and building a robust sales and marketing team. With a focus on increasing its presence in India and exploring international markets, the company is poised for rapid growth and expansion.
ZenStatement (formerly SimpliFin) offers a sophisticated platform that enables businesses to monitor, optimize, reconcile, and forecast their cash flows. Utilizing AI-driven natural language queries, it provides crucial financial insights, catering especially to enterprises with high transaction volumes.
Since its inception, ZenStatement has attracted leading companies in the digital commerce, retail, and FinTech sectors, handling about 10 million transactions monthly.
CEO and cofounder Sourabh Nolkha, said, “By automating the finance processes end-to-end, we help finance teams to be more productive and focus more on activities that drive more impact. We have seen great traction so far in India (and there are early offshoots in other developed markets) and looking forward to accelerating the digital adoption of the finance function while simplifying the lives of finance professionals.”
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