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Finance automation startup ZenStatement raises $1.6 million in seed funding

Economic Times · 1m

- Finance automation and cash flow management platform ZenStatement has raised $1.62 million in a funding round led by 3One4 Capital and Boldcap VC. - The company plans to use the funds to increase its product offerings and expand its presence in both India and international markets. - ZenStatement is backed by notable angel investors and business leaders, including former global treasury head of Apple and co-founders of other successful companies. - The AI-powered platform is designed for enterprises with high transaction volumes and provides financial insights through AI-driven natural language queries. - ZenStatement boasts a customer base that includes unicorns and leading companies in digital commerce, retail, and fintech sectors, handling approximately 10 million transactions per month. - Reconciliation is a challenging problem for businesses, and ZenStatement aims to provide a viable solution for finance teams to automate processes and simplify their lives.