ZenStatement, an AI-powered finance automation and cash flow management platform, has raised $1.62 million in its seed funding round led by 3One4 Capital and Boldcap VC, with additional contributions from Dynamis Ventures and Atrium Angels.
The startup is also supported by a group of angel investors and business leaders, including Michael Boyd (former Global Treasury Head at Apple), Chetan Venugopal (Founder of Pierien Services), Ankit Nagori (Founder of EatFit), Kulin Shah (Founder, Onsurity), Ankit Fatehpuria (Founder of Zetwerk), and Sujayath and Navaneeth (Founders of Shop-up and Voonik).
The funds will be used to enhance its product offerings and develop a sales and marketing strategy to grow its footprint in both Indian and international markets.
“With the support of our investors, we will accelerate our growth and enhance our offerings through the world’s first unified finance automation platform that not only meets the needs of our users today but also adapts to the future demands in the ever-evolving financial landscape,” Ankit Narsaria, Co-founder and Chief Product Officer, said.
Sourabh Nolkha, CEO and Co-founder of ZenStatement, 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 are looking forward to accelerating the digital adoption of the finance function while simplifying the lives of finance professionals.”
Founded in 2023 by Sourabh Nolkha and Ankit Narsaria, ZenStatement (formerly SimpliFin) enables businesses to easily monitor, optimize, reconcile, and forecast their cash flows while providing valuable financial insights through AI-driven natural language queries.
The company aims to automate finance processes end-to-end, improving productivity and allowing finance teams to focus on high-impact tasks.
In just one year of operation, ZenStatement claims to have attracted a customer base that includes unicorns and leading companies in sectors such as digital commerce, retail (including food and beverage), and fintech, processing around 10 million transactions (approximately 60 million) monthly.
