This Bengaluru startup's AI solutions help finance teams streamline their operations

In today’s rapidly evolving digital landscape, finance teams are under constant pressure to handle high transaction volumes and complexities. A significant portion of their time is consumed in manually consolidating data, managing cash flow, and generating financial reports across fragmented systems.

These manual tasks lead to cash flow inefficiencies and gaps in financial decision-making across businesses. Organisations lose approximately a part of their revenue solely due to cash flow leakages and workflow inefficiencies. According to a survey by Gartner, 18% of accountants make financial errors daily, with a third making errors every week and over half (59%) making several errors per month.

Enter ZenStatement. Founded by ISB alum Sourabh Nolkha and IIM graduate Ankit Narsaria in 2023, the Bengaluru-based startup’s AI-powered cash flow management and financial analytics solution is designed for businesses handling high-velocity transactions. The platform enables monitoring, optimisation, reconciliation, and forecasting of cash flows while delivering actionable business-finance insights through AI-powered natural language queries.

It aims to simplify financial operations, allowing businesses to gain real-time visibility into their cash flow, identify inefficiencies, and make data-driven decisions.

“For any business, finance teams work with various tools and apps to manage their finance processes, be it account receivable or payable, reporting or treasury management,” says Nolkha. 

“However, challenges arise since their 'CFO stack' is disconnected and therefore leads to inefficiencies that result in loss of productivity, overdependence on spreadsheets, long, laborious, erroneous processes and leakages in revenue and cash flow,” explains the CEO and Co-founder, who has worked with Deloitte, offered tech consulting to organisations including Apple’s Global Treasury and worked as a finance leader in companies including Mensa Brands and ITILITE.

Meanwhile, Narsaria has over 12 years of experience in retail, ecommerce and fintech, leading product functions in companies like ShopUp, JustPay, MatchMove, and Voonik.

How does it work?

The Bengaluru-based startup is building a full-stack finance operating system that simplifies and automates accounts payable, accounts receivable, reporting, and treasury management. 

“At the core of ZenStatement is automation. Our platform seamlessly integrates with existing financial systems—payment gateways, bank accounts, ERP platforms, and sales channels—to automatically reconcile transactions and consolidate financial data,” adds Nolkha in an interaction with YourStory.

By removing manual data entry and fragmented processes, ZenStatement aims to enhance accuracy, reduce operational overhead, and accelerate financial closures. Its automation-first approach allows finance teams to shift their focus from repetitive tasks to strategic decision-making.

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“Our system continuously monitors transactions, identifies anomalies, and predicts cash flow trends, enabling businesses to make proactive, data-driven decisions. With AI-powered forecasting, finance teams can anticipate cash shortfalls, optimise working capital, and prevent liquidity risks—ensuring financial stability and agility as the business scales,” he highlights, adding that its unified platform removes the complexity of managing multiple disconnected tools.

Business model and early traction

The startup offers a monthly subscription to its customers. The pricing is based on the transaction volumes they process through its platform. 

After launching the MVP in January 2024, the 15-member startup has built a customer base that includes unicorns and businesses in digital commerce, retail (F&B and others), and fintech sectors. 

“While awareness and adoption are still growing, the demand for data-driven financial decision-making, analytics, and automation is increasing rapidly,” Nolkha notes. 

“Today, we handle approximately 10 million transactions (~ $60 million) for our customers every month,” he says.

Market opportunities and way ahead

The financial automation market was valued at $ 6.6 billion in 2023 and is estimated to register a CAGR of over 14.2% between 2024 and 2032.

ZenStatement raised $1.62 million in seed funding in October 2024 from 3One4 Capital and Boldcap VC, with participation from Dynamis Ventures and Atrium Angels. It is also backed by angels including Michael Boyd (ex-Global Treasury Head, Apple), Chetan Venugopal (Founder, Pierien Services), Ankit Nagori (Founder, EatFit), Kulin Shah (Founder, Onsurity), Ankit Fatehpuria (Founder, Zetwerk), and Sujayath and Navaneeth (Founders, Shop-up, Voonik).

The startup will use the capital to focus on increasing its product offerings and building a sales and marketing engine to expand its presence in India and international markets.

Speaking about competition, Nolkha says that CFO stack solutions have created a niche in SaaS, and have been growing tremendously in the last few years. However, most of the current products from companies like Numeric.io, Ledge.co, Statement.io, Bluecopa, OsFin, etc are point solutions, focused on solving one problem or targeted to one function in the finance team. 

“We are building ZenStatement as a one-stop finance operations solution for the CFO, spanning all finance functions. In many ways, ZenStatement complements the existing solutions by bridging the gap and serving the finance leaders and their teams better together,” he quotes.