The Palo Alto and Pune-based AI-powered fintech startup Zeni announced that it has raised $34 million in a Series B funding round led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora.
Zeni claims to have seen 550 percent revenue growth year-over-year driven exclusively by referrals and organic growth. Existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures also participated in the round.
The startup said it will use the capital infusion to bring its bookkeeping and accounting platform and services to more customers by investing aggressively in its team in the US and India across product, technology, marketing, sales and finance operations.
