Billing start-up Zenskar has raised $3.5 million in a seed funding round led by Bessemer Venture Partners. Other investors who participated included Shine Capital, Basecamp Fund and Converge.
According to the official media release, Bengaluru-based Zenskar aims to utilise the funds for hiring and upskilling engineering talent and advancing its go-to-market initiatives. The billing platform also wants to accelerate product development with this capital infusion.
Founded in March 2022 by Apurv Bansal and Saurabh Agrawal, Zenskar offers a billing platform for Software as a Service (SaaS) companies that helps them handle complex functions including usage-based pricing, subscriptions, nuanced discounts and credits.
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Bansal said, “Our vision is to provide an integrated suite of financial products that seamlessly automates the entire quote-to-cash cycle, including CPQ, billing, accounting, receivables management, usage metering, analytics and forecasting.”
Agrawal further added that while internal engineering resources are freed up from billing efforts using Zenskar's solutions, a company's finance teams can also recognise accounting entries flexibly in a low-code no-code manner, mainly based on business and pricing nuances.
Zenskar also offers services in automating, accounting, streamlining receivables management workflows and providing analytics. It integrates with an organisation's tech stack, including Customer Relationship Management (CRM), Configure Price Quote (CPQ) and Enterprise Resource Planning (ERP). The official statement said that it onboarding process can be done by non-technical users and takes only a few days, unlike months needed by ‘legacy billing tools.’
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