Noida-based banking software startup BusinessNext has raised $40 million in a Series B funding round led by ServiceNow Ventures, the investment arm of US cloud software giant ServiceNow. The investment values the company at $700 million, marking a nearly fourfold jump from its $181 million valuation in 2021.
According to media reports, ServiceNow has acquired an approximately 5% stake in BusinessNext through the transaction. The latest funding will help the fintech SaaS company strengthen its AI-powered banking platform and accelerate its international expansion.
Fresh Capital to Strengthen AI Banking Platform
BusinessNext plans to use the newly raised capital to enhance its autonomous banking platform, expand its Private AI capabilities for financial institutions, and accelerate product innovation.
The company is also preparing to expand its operations into Australia and New Zealand, while leveraging its strategic partnership with ServiceNow to strengthen its presence across Southeast Asia.
The investment reflects growing demand among banks for AI-powered software that can automate customer engagement, improve operational efficiency, and increase employee productivity.
Building AI Software for Global Financial Institutions
Founded by Nikhil Singh, BusinessNext develops AI-powered banking software designed for banks, insurance companies, and financial institutions.
Its platform offers customer relationship management (CRM), digital lending, customer onboarding, sales automation, and AI-driven engagement solutions tailored for the financial services industry.
According to the company, its software is currently used by more than one million banking professionals across over 75,000 bank branches worldwide.
By integrating artificial intelligence into banking workflows, BusinessNext aims to help financial institutions improve customer experience while streamlining internal operations.
Serving Leading Indian Banks
BusinessNext has built a strong presence in India’s banking sector, serving several leading financial institutions.
Its customer portfolio includes HDFC Bank, Axis Bank, IndusInd Bank, Kotak Mahindra Bank, AU Small Finance Bank, Jana Small Finance Bank, Ujjivan Small Finance Bank, and SBI General Insurance.
The company’s enterprise focused software has enabled it to establish long-term relationships with banks seeking digital transformation and AI-enabled customer engagement platforms.
Revenue Growth and Investor Confidence
BusinessNext previously raised $16 million in 2021 through a funding round co-led by Avataar Ventures and Ascent Capital.
According to media reports, the company reported ₹312 crore in revenue and ₹3.1 crore in net profit during FY25, highlighting continued business growth while maintaining profitability. The company’s FY26 financial results have not yet been disclosed publicly.
The sharp increase in valuation from $181 million in 2021 to $700 million in the latest funding round reflects growing investor confidence in BusinessNext’s AI-driven banking software and expanding global market opportunity.
Strategic Partnership with ServiceNow to Drive Global Expansion
Beyond the capital infusion, BusinessNext’s partnership with ServiceNow Ventures is expected to strengthen its international growth strategy.
The collaboration is expected to support expansion across Southeast Asia, Australia, and New Zealand, where financial institutions are increasingly investing in AI-powered enterprise software.
Commenting on the funding, founder Nikhil Singh said banks are rapidly adopting artificial intelligence to improve productivity and increase revenue per employee. He added that the strategic relationship with ServiceNow is expected to contribute significantly to the company’s long-term growth.
AI Continues to Transform Banking Software
BusinessNext operates in a competitive enterprise software market alongside global players such as Salesforce, Zoho, Freshworks, HubSpot, and LeadSquared.
As banks continue investing in automation, AI-powered customer engagement, and intelligent workflow solutions, demand for specialized banking software is expected to grow rapidly.
With fresh funding, a significantly higher valuation, and strategic backing from ServiceNow Ventures, BusinessNext is well positioned to expand its AI capabilities, strengthen its global footprint, and capitalize on the digital transformation underway across the financial services industry.
