Zeni Launches Finance Concierge for Start-ups Backed by Artificial Intelligence
Zeni | March 15, 2021
Zeni, the book-keeping Fintech firm launched the first AI-powered finance concierge for start-ups, making it smart book keeping, accounting, CFO services ready to serve businesses across the United States.
The company has also declared that it has brought up 13.5$ million funding till now, with Series A led by Saama Capital, Twin Ventures, Liquid 2 Ventures, Firebolt Ventures, Dragon Capital, Amit Singhal, Sierra Ventures, and SVB Financial Group involving in the funding with some more famous angel investors.
since onboarding its first paid customers in January 2020, the company has experienced rapid growth and approvals. Today, managing over $200 million in funds each month across more than 100 startups, Zeni uses seamless blend of artificial intelligence and finance experts to manage book keeping and all other financial needs of its customers.
What Zeni offers is speed and accuracy that gives start-up founders a real-time access to key-financial insights. The Zeni includes burn rate, operating expenses, cash/card balance, revenue by product, month-end reports, and more on its dashboard.
Swapnil Shinde, Co-Founder and CEO of Zeni said “Start-up founders are flying blind each day because they don’t have access to a timely, accurate overview of their business finances,”. He also added: “We’re giving founders and start-up decision makers real-time visibility, control, and expert support with a finance solution that can evidently keep pace with their expanding business.”
Zeni empowers startups by managing all finance-related activities of its startup clients for a flat monthly and yearly charges for the book keeping, accounting, and CFO services which includes:
• Invoicing and Bill Pay
• Expense and Receipt Management
• Financial Projections, Budgeting, and FP&A Support
• Payroll Administration
• Zeni Dashboard Real-Time Reporting
• Month-end Financial Statements
• Yearly Taxes and R&D Credit
Zeni has processed over 300$ million transaction in its initial year, and is on track to process over $1 Billion transactions in the next 12 months.
Jenova Chen, Co-Founder and President of thatgamecompany, says “Zeni overcomes real-world pain points for startups like ours, we view the Zeni crew as an enlargement of our team. We rely on them multiple times every day to answer queries and get us our financial reports in a timely manner. For the first time, the Zeni dashboard gives me a real-time snapshot of how our firm is tracking and a constant outlook on business performance.”
Co-Founders of Zeni, Swapnil Shinde and Snehal Shinde are twins and repeat entrepreneurs and technologists known for integrating human expertise and artificial intelligence. They have sold their previous start-up, the AI-powered travel assistant to Mezi to American Express. The twin brothers have now recruited a team of CPAs, accountants, tax advisors, FP&A experts and CFOs to leverage their expertise in creating the only finance management solution for start-ups.
Ash Lilani, Managing Partner at Saama Capital said “Bookkeeping automation is a $10 billion market opportunity pleading for a solution that can enhance human output and meet the needs of expanding businesses,”. He also added “When Swapnil and Snehal stated they wanted to challenge the disconnected, complex bookkeeping solutions on the current market, we knew they were the team to do it. We’re excited to support Zeni in helping startups optimize their business each day.”
Zeni is a first-of-its-kind finance concierge that integrates human expertise and artificial intelligence to help start-ups make correct financial decisions and keep a tab on their expenditures. The Zeni dashboard includes daily bookkeeping, yearly taxes, bill pay, and invoicing, financial projections, budgeting, payroll administration, and more. Founded by twin brothers, Swapnil Shinde and Snehal Shinde in 2019, are serial entrepreneurs with their previous start-up acquired by American Express in 2018. Zeni has international investors including Saama Capital, Twin Ventures Sierra Ventures, Amit Singhal, SVB Financial Group, Firebolt Ventures, Dragon Capital, and Liquid 2 Ventures, plus additional prominent angel investors.