Zeni, a Palo Alto, Calif.-based modern bookkeeping fintech company, raised $13.5m in Series A funding.
The round was led by Saama Capital with participation from Amit Singhal, Sierra Ventures, SVB Financial Group, Liquid 2 Ventures, Firebolt Ventures, Dragon Capital, and Twin Ventures, with additional prominent angel investors.
The company intends to use the funds to expand operations and its business reach.
Led by Swapnil Shinde, Co-Founder and CEO, Zeni manages everything finance-related on behalf of its startup customers for a flat monthly fee as part of its bookkeeping, accounting, and CFO services, which includes:
- Bill Pay and Invoicing
- Expense and Receipt Management
- Financial Projections, Budgeting, and FP&A Support
- Payroll Administration
- Real-Time Reporting via Zeni Dashboard
- Monthly Financial Statements
- Yearly Taxes and R&D Credit
Zeni has processed more than $300 million in transactions in its first year, and is on-track to process a total of $1 billion in transactions in the next 12 months.
Co-Founders twin brothers Swapnil Shinde and Snehal Shinde are repeat entrepreneurs and technologists with a proven track record unifying human expertise with artificial intelligence, selling their last company, AI-powered travel assistant Mezi, to American Express in 2018.