A seed round led by 3One4 Capital and Boldcap VC, with participation from Dynamis Ventures and Atrium Angels, has raised $1.62 million for ZenStatement, an AI-powered platform for cashflow management and finance automation.
A group of business executives and angel investors also support the startup: Michael Boyd (former Global Treasury Head, Apple), Sujayath and Navaneeth (Founders, Shop-up, Voonik), Ankit Nagori (Founder, EatFit), Kulin Shah (Founder, Onsurity), and Ankit Fatehpuria (Founder, Zetwerk).
The money raised will be put toward expanding the company’s product line and developing a sales and marketing infrastructure so that it can become more widely known in India and other countries.
Using AI-driven natural language queries, ZenStatement (formerly known as SimpliFin), founded in 2023 by Sourabh Nolkha and Ankit Narsaria, offers helpful financial insights while facilitating the easy monitoring, optimization, reconciliation, and forecasting of cash flows for businesses.
ZenStatement claims to have built a customer base in just 12 months of operation, consisting of unicorns and top fintech, retail (F&B and other categories), and digital commerce companies. It also handles about 10 million transactions (about 60 million) per month.
