ZenStatement has lately secured $1.62 million in seed funding. It highlights confidence of investors in finance automation segment. The startup has the potential to reshape financial process management for enterprises and streamline cash flow management complexities too. The funding round was led by Bengaluru-based 3One4 Capital and Boldcap VC.
ZenStatement was founded by Sourabh Nolkha and Ankit Narsaria in 2023 as SimpliFin. It has positioned itself as a key player in the finance automation segment. It uses AI-based natural language queries to help enterprises in managing large volumes of transactions. It is an innovative approach and has the ability to monitor, optimize as well as forecast cash flows.
The focus of ZenStatement on revenue leakages is noteworthy. Businesses handling vast numbers of transactions often face revenue losses due to reconciliation errors or chargeback disputes. The new platform is helping enterprises to save money and make informed decisions. The enterprises can easily identify leakages and rectify those with the help of the provided tools.
ZenStatement is ambitious to expand its services beyond basic receivable management. It is soon to introduce payable management and enhanced forecasting features. Hence, the platform is on the path of becoming a comprehensive finance automation solution in one place.
The recent funding of ZenStatement will undoubtedly accelerate the adoption of digital finance tools. It is being supported by reputed investors considering the long-term value of automating reconciliation processes. The startup is well-positioned and may lead the change in making finance departments more efficient. It is offering a compelling argument to enterprises which are still relying on outdated as well as manual finance processes. The enterprises should embrace automation to save money and put less pressure on the finance teams.
