Zeni, which is a famous financial concierge startup, has managed to add USD 34 Million as they are planning to have a tool to show SMBs finances in real time. It was a Series B funding, which was led by Elevation Capital. The investment comes just five months after they took a mega funding of USD 13.5 million. It means they have now taken a total funding of $47.5. The start-up was founded in 2019 by twin brothers named Swapnil Shinde and Snehal Shinde. Aipowered 34m Series Elevation Capitalhalltechcrunch.
Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures joined with Think Investments and Neeraj Arora as the investors of the start-up. The funding has led Ravi Adusumalli, who is the founder and managing partner at Elevation Capital to join the board of Zeni. They did start this start-up after managing to sell Mezi, which is a travel concierge, to huge bankers named American Express back in 2018. The AI-backed start-up helps in finance concierge platform to keep bookkeeping, accounting, tax and CFO services. For this work, they do take a flat fee of $299 per month, which might increase in future as some of the companies would be bigger to keep the data. Hence, the charges might be bigger. Zeni Aipowered 34m Elevation Capitalhalltechcrunch.
However, this does help them to make very small to big business a part of their planning. Plus they would get a huge database of many companies on their sheet. Hence, it would eneble them to make things look creative and progressive.
One can track cash in and out, operating expenses, yearly taxes and financial projections with the help of Zeni Dashboard. It would enabled everyone to see where the money is going. It does allow them to dowloand the financial data. At the time of Series A funding, the start-up has a huge backing of managing asset around $200 million in funds every month. Zeni Aipowered 34m Series Capitalhalltechcrunch.
Now it has crossed the mark of more than 500 Million USD. Year-over-year, they have seen as a revenue growth of 550% with the customer base has grown by 375%. This does show how well they are going in the market. Despite reaching very good numbers, they have taken a Series B funding which does seem to be a shock as it seems they are moving in a right direction. However, the funding is there to use for global expansion they do want to take. Zeni 34m Series Elevation Capitalhalltechcrunch.
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“As our customers scale through to their Series B, the more you can use our solution in real time to see what is happening with your finances, especially with startups and businesses having more of a remote workforce,” Swapnil Shinde said.
He added: “Zeni fits with that.”
This does, in a creative way, show how well they do want to promote Zeni for showing the fact it can create a mega impact for moving forward. Hence, the growth of company has created a huge boom for the founders and their aim to move ahead in this digital age. Zeni 34m Series Capitalhalltechcrunch.
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