AI-powered Fin-Ops and Financial Supply Chain Solution, ZenStatement, has raised $1.6 million in a seed funding round led by 3One4 Capital and Boldcap VC, with participation from Dynamis Ventures and Atrium Angels.
According to a statement, ZenStatement intends to use the additional funding to concentrate on expanding its product line and creating a sales and marketing engine to increase its market share in India and beyond.
“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,” Nolkha, CEO, and cofounder of ZenStatement, said.
“Reconciliation is a surprisingly hard problem to solve, and businesses often tend to put some brittle solutions in place for the lack of viable alternatives,” Sonal Saldanha, vice president, of investments at 3one4 Capital, said. This can become a great starting point for a product like ZenStatement, Sonal added.
About ZenStatement
Founded in 2023 by Sourabh Nolkha and Ankit Narsaria, ZenStatement’s Mission is to Transform finance for a digital-first world. It has aimed to be the global leader in financial solutions, specializing in serving digital-first businesses. Based in Bangalore, India, we bring an international perspective to financial technology.
ZenStatement provides cutting-edge financial solutions, addressing complexities like diverse revenue channels, dynamic payment methods, and high transaction volumes. Its AI-powered cash flow Management Solution offers real-time monitoring, optimization, reconciliation, and forecasting for precise financial control.
