AI-powered finance concierge Zeni has raised $34 million in a Series B funding round.

The round was led by Elevation Capital with participation from Think Investments and Neeraj Arora.

Zeni manages more than $500 million in funds each month across more than 100 start-up customers, which range from pre-revenue companies to businesses generating more than $100 million in annual revenue.

Zeni will use the investment to bring its intelligent bookkeeping and accounting platform and services to more customers in the US and India.

“Start-ups 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,” said Swapnil Shinde, co-founder and chief executive, Zeni. “There is a huge demand from start-ups to digitise and automate their business finances, leading Zeni to experience 550 percent revenue growth and 375 percent customer growth year-over-year.”

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