Startup founders then have real-time access to key financial insights via the Zeni Dashboard, including burn rate, operating expenses, cash/card balance and revenue by product. Zeni is the first AI-powered finance concierge for startups powering high velocity decision making. Zeni was founded in 2019 by twin brothers and serial entrepreneurs, Swapnil Shinde and Snehal Shinde, who most recently founded Mezi, the AI-powered travel assistant acquired by American Express in 2018. For a flat monthly fee, Zeni gives businesses access to real-time financial data, along with the support of a team of certified accountants.

You can use simple and intuitive accounting software for startups to automate the accounting process and get an up-to-date view of your cash flow. Leveraging their technical expertise and first-hand experiences as founders, the twin brothers recruited a team of expert CPAs, accountants, tax advisors, FP&A experts and CFOs to create the only finance management solution for founders, by founders. Founders need quality financial reporting to enable rapid, quality decision-making and attract quality investors, but they are typically not accounting experts.

The round follows a $11.5m Series A led by Saama Capital in March and a $2m seed round led by Twin Ventures in 2019, bringing Zeni’s total funding raised to $47.5m. The round was led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora and existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures. In conjunction with the funding, Ravi Adusumalli, Founder and Managing Partner at Elevation Capital, joined Zeni’s board. Using depreciation, a business expenses a portion of the asset’s value over each year of its useful life, instead of allocating the entire expense to the year in which the …. Since launching 12 years ago, Bankless Times has brought unbiased news and leading comparison in the crypto & financial markets.

Zeni launches AI-powered finance concierge for startups

Founders have real-time access to financial insights via the Zeni Dashboard, including cash in and out, operating expenses, yearly taxes and financial projections. In today’s digital age, technology plays a crucial role in managing finances for startups. From accounting software to payroll processing platforms, there are countless tools available to streamline financial operations and improve efficiency.

Founders

Beyond just creating budgets, your accountant can help you with forecasting, analyzing key performance indicators (KPIs), and developing a financing strategy. Your accountant can help look at the “big picture,” examining how all your financials are interrelated and affect your company. And in today’s higher interest rate environment, our finance and accounting teams have been helping clients think about safe ways to get some yield out of their cash positions.

This allows Zeni to offer exceptional service at an affordable price point, based on a company’s total monthly expenses. The cash flow metric calculates the net cash and cash equivalent inflows and outflows from your startup. If your startup has a positive cash flow, it means your company is building up its liquid assets, which would help settle debts, invest, pay dividends to shareholders and create a buffer that shields it from future financial hurdles. Monitoring cash flow ensures your startup maintains adequate liquidity to meet its obligations. Tracking revenue growth informs you about how well your product or service is being received in the market.

The Marketing Plan will accountant for startups tell you the feasibility of the business before you start investing time and money into it. If the business cannot substantiate the required investment based on sales and profitability, it is not a sustainable business. It’s also important to compare your bank statements with the general ledger to ensure every bank transaction has a corresponding ledger entry. Accounts receivable (A/R) represents the money your business expects to receive from customers for the goods or services you’ve provided.

Zeni

Errors could result in a client being unable to deliver payments or in late bills that hurt planning. You can also create beautiful PDF reports of your forecast and use them to impress investors and board members. The tool also lets you model different scenarios and look at the impact of how various spending decisions, or potential new business will play out in the medium term.

Our human finance experts are supported by AI to complete ‘busy work’ on their behalf, creating efficiencies at scale. Within every report on the Zeni Dashboard, we provide AI-generated insights highlighting the key contributing factors affecting changes to your monthly finances. Prior to starting Zeni, we spent 5 years building a human assisted AI-powered platform for travel which was acquired by AMEX in 2018, and today serves more than 10 million AMEX card members across the U.S. and U.K.. We understood exactly how a similar platform could be effective in the world of startup bookkeeping and accounting.

EBITDA is a measure of a company’s operational profitability before accounting for financial and non-cash expenses like interest, taxes, and depreciation. It provides a clearer picture of a company’s operational performance, helping to assess its financial health and compare profitability across businesses. Today, the company manages more than $500m in funds each month across more than 100 startup customers, which range from pre-revenue startups to businesses generating more than $100m in annual revenue. Silicon Valley AI-powered finance concierge startup Zeni raised $34m in Series B funding after witnessing a 550% revenue growth year-over-year.

• This slow pace leaves founders making business-critical decisions blind, without real-time insights.
• GAAP and accrual accounting methods for all of our customers, steadfast in our belief that even the earliest stage startups need to set up their financial operations to grow and scale.
• Startup accounting services, or outsourced bookkeeping services provide a full accounting department experience, while freeing up time to focus on your startup’s core competencies.

Betashares led the pack as Australian FinTech funding dropped by 74%…

Not every company can start out with a chief financial officer, but bookkeeping fintech Zeni is enabling startups to have those accounting and CFO services from the beginning. Burn rate tells you how quickly your startup utilizes its capital to finance business overhead before it begins producing positive cash flows from operations. The break-even point is the level of revenue at which a startup’s total costs equal total revenues. Reaching the break-even point is a major milestone for startups, indicating that they have reached a sustainable revenue level.

It offers a more accurate view of overall financials, helping stakeholders better understand trends in revenue, profit, and expenses. Unlike equity financing, debt financing does not dilute ownership but requires careful management of cash flow to meet repayment obligations. It is typically used for later-stage businesses seeking capital without giving up ownership. LTV represents the total revenue a company expects to generate from a customer over the entire duration of their relationship with the business.

We recommend that you use your own judgement and consult with your own consultant, lawyer, accountant, or other licensed professional for relevant business decisions. It’s designed to work with quickbooks, xero, and many other accounting software and lets you automate the way you pay bills, send invoices and get paid (up to 3x faster). With over 4.3 customers worldwide, Quickbooks is one of the most trusted business financial toolkit available online. You need good financial tools to achieve everything you want, be it creating detailed investor returns, cash flows, or payrolls. Unlike the fixed asset turnover, including only finance concierge for startups property, plant and equipment to calculation, this ratio measures how …. This also means you need to manage all related payroll forms including 941s as well as W-2s and 1099s.

• Using depreciation, a business expenses a portion of the asset’s value over each year of its useful life, instead of allocating the entire expense to the year in which the ….
• Human experts can either approve, override, or correct the categorization so the AI system learns from its mistakes.
• In many cases, startups begin with a fractional or virtual CFO before committing to a full-time hire, especially when financial modeling and fundraising are top priorities.
• The round was led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora and existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures.

Startups with a longer runway have more time to reach growth milestones before seeking additional capital. To effectively manage a startup’s finances, a CFO must have a strong grasp of key financial concepts specific to the startup environment. In this article, we’ll break down the fundamental financial terms every startup CFO needs to know—and why mastering them is essential for sustainable growth. For the first time, founders can see exactly how their startup’s financial operations are performing in real-time, access the transaction-level data supporting the high-level reports, and use this information to course correct as issues arise. The combination of AI and human experts allows Zeni to perform daily bookkeeping, meaning your startup’s financial records are always up-to-date (not just at month end). In its first year, Zeni processed more than $300 million in transactions and is now managing $200 million in finances each month.

As artificial intelligence plays a growing role in automating manual processes, Zeni is well-positioned to transform the way startups manage their finances. Startups can’t succeed if they are weighed down by legacy software and error-prone data entry. Zeni’s mission is to relieve these burdens by providing startups with an artificially intelligent full-service finance team.