ZenStatement Raises $1.62 Mn In Seed Round

ZenStatement, an AI-powered finance automation and cash flow management platform, has secured USD 1.62 million in its seed funding round, led by 3One4 Capital and Boldcap VC, with additional contributions from Dynamis Ventures and Atrium Angels.

The startup is supported by a group of angel investors and business leaders, including Michael Boyd (former Global Treasury Head at Apple), Chetan Venugopal (Founder of Pierien Services), Ankit Nagori (Founder of EatFit), Kulin Shah (Founder, Onsurity), Ankit Fatehpuria (Founder of Zetwerk), and Sujayath and Navaneeth (Founders of Shop-up and Voonik).

The funds will be utilised to enhance product offerings and develop a sales and marketing strategy to grow its footprint in both Indian and international markets.

Founded in 2023 by Sourabh Nolkha and Ankit Narsaria, ZenStatement (previously known as SimpliFin) enables businesses to easily monitor, optimize, reconcile, and forecast their cash flows while providing valuable financial insights through AI-driven natural language queries.

In just one year of operation, ZenStatement claims to have attracted a customer base that includes unicorns and leading companies in sectors such as digital commerce, retail (including food and beverage), and fintech, processing around 10 million transactions (approximately 60 million) monthly.