BusinessNext has raised $40 million in a Series C round led by ServiceNow Ventures, the investment arm of the US enterprise software group. The transaction values the Noida-based banking software firm at $700 million and gives ServiceNow a stake of about 5%, Reuters reported.
The company builds software for customer management, lending, collections, digital banking, and workflow automation—tools used by more than one million banking professionals across 120-plus financial institutions, including State Bank of India and HDFC Bank.
This is a strategic capital allocation, not a passive bet. The investment is explicitly tied to deepening a product partnership between the two firms. BusinessNext will use the fresh funds to develop its autonomous banking platform, strengthen private AI capabilities, and expand sales into Southeast Asia and Australia.
On the ServiceNow side, its AI Control Tower will be integrated to support monitoring and governance of the AI agents deployed through BusinessNext’s platform—giving bank customers greater visibility over their models and automated systems.
For a global financial services buyer or partner looking at India’s banking infrastructure stack, the signal here is that a US enterprise giant is placing its operational technology directly into an Indian platform’s deployment pipeline.
ServiceNow isn’t just writing a cheque; it’s attaching its own AI governance layer to a platform already running inside two of India’s largest banks. That is a corridor-ready export story—India-built core banking tech, married to enterprise-grade AI ops, now pushing into Southeast Asia and Australia.
“Autonomous banking is not a vision we are chasing, it is a category we have been building for years,” founder and CEO Nishant Singh said.
BusinessNext previously raised $16 million in a Series B in 2021, co-led by Avataar Venture Partners and Ascent Capital.
