Zeni, a fintech startup has recently raised $34 million in its Series B funding round. The round was led by Elevation Capital and was joined by Think Investments and Neeraj Arora. Existing investors including Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital, and Liquid 2 Ventures also participated in this round of funding.
The company is based in Palo Alto, California, and Pune and was founded by brothers Snehal and Swapnil Shinde. It will use the funds to improve its AI platform which is mainly for bookkeeping and accounting, and also increase its user base and invest in its own development in the US and in India. The brothers had also founded Mezi, which is an AI-powered travel assistant. It was later acquired by American Express.
The firm had its Series A round funding in March and collected about $13.5 million. The total amount raised by the firm has now amounted to $47.5 million.
Swapnil Shinde who is also the chief executive of the firm has told Economic Times, “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.”