Fintech Startup Zeni Raises $34M In Series B Round

• ByStartupStory     |    August 5, 2021

Fintech startup Zeni raises $34M in Series B round led by Elevation Capital. New investors Think Investments and Neeraj Arora also participated in this funding round. Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures which are Zeni’s existing investors also participated in this funding round. The startup’s revenue has grown by 550 percent mostly by referrals and organic growth. Zeni today  manages more than $500 million funds each month across more than 100 startup customers, ranging from pre-revenue startups to businesses generating more than $100 million in annual revenue. The startup said it will use this capital to bring to their customers services like bookkeeping and accounting platforms by investing aggressively in its team in the US and India across product, technology, marketing, sales and finance operations.

“Startups and small businesses are fundamentally changing how they operate based on digital-first tools and services that are displacing the traditional, slow and human-intensive services across every category,” said Swapnil Shinde, Co-founder and CEO, Zeni. “There is a huge demand from startups to digitise and automate their business finances, leading Zeni to experience 550 percent revenue growth and 375 percent customer growth year-over-year. Zeni is tackling the root of startup risk—financial management—by applying artificial intelligence, machine learning, and robotic process automation to create a fast, streamlined, intuitive way for startups to manage their finances,” Swapnil added. Traffic in Digital markets is leading to Digital transformation and which in turn  is helping startup businesses like Zeni grow,  and the small business sector is feverishly digitising and automating every part of their business operations. 

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