SaaS is the future that is the consensus emerging in Silicon Valley and in India. Zeni, a SaaS-based book keeping and accounting platform, was founded by Swapnil and Snehal Shinde in 2019. The mission was to remove the pain from accounting and make it almost Zen like, hence the name!

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Before this, the duo founded Mezi in 2015, an artificial intelligence-powered travel assistant platform, which was acquired by American Express for an estimated $125-150 million in 2018.

Their first venture was Dhingana, an Indian on-demand music service platform, founded in 2008, which was acquired by digital music service provider Rdio in 2014.

In an interview to Shereen Bhan, Swapnil Shinde, co-founder & CEO of Zeni, and Snehal Shinde, co-founder & Chief Product Officer of Zeni, said, "Building finance functions is extremely painful and overwhelming. You have to hire too many people like accountant, book keeper, tax expert, and it just keeps getting more complex as you scale the company. So, we wanted to create something that is far more easier for founders to use and that is how Zeni started."

The company aims to hit $1 billion in a few years.

"We intend to hit $1 billion in next couple of years. We need to turbo charge our growth and have few hundred more customers and then probably reach a stage where we are processing more than $1 billion in transactions every single month. Right now we are managing more than $500 million in finances every month across all our customers."

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They said more than 120 startups have signed up with Zeni as of now.

"We have more than 120 startups who have signed up with Zeni. We have close to around 50 employees. Everyone on our team is a full time employee. Also, 50 percent of our current customers have subsidiaries around the world."

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(Edited by : Bivekananda Biswas)

First Published:Aug 18, 2021 8:36 PM IST