Hisabkitab, an AI-powered accounting platform for small and medium businesses, has raised a seed round from angel investors and high-net-worth individuals at a valuation of INR 20 crore.

The Surat-headquartered startup was founded by Chartered Accountants Shrigopal Malani (AIR 16 ranked) and Abhinav Sharma, who built the product after spending years in practice themselves. The platform combines artificial intelligence, cloud infrastructure, and end-to-end accounting into a single system — replacing the patchwork of billing, bookkeeping, compliance, and reporting tools that SMEs typically stitch together.

The company plans to deploy the capital toward building out what it calls its AI Intelligence Layer: a suite of agents covering audit, tax preparation, accounts receivable and payable, insights and forecasting, and financial reporting. Funds will also support customer acquisition and scaling its CA Partner Program, which has become a key growth engine by routing steady business referrals through practising Chartered Accountants across India.

Since launching in January 2025, Hisabkitab has attracted over 30,000 sign-ups and serves more than 2,700 paying SMEs and startups. Monthly revenue has grown nearly six-fold — from INR 4.18 lakh in May 2025 to INR 25.01 lakh in June 2026 — with an average user rating of 4.8+. The company has also established an early footprint in the UAE and Bhutan, giving it a corridor presence that extends beyond domestic SME compliance demand into markets where Indian accounting norms and diaspora business networks create natural pull.

Why it matters: The Indian accounting software market was valued at roughly USD 699 million in 2025 and is projected to reach approximately USD 1.5 billion by 2034. Within that expansion, Hisabkitab’s trajectory — bootstrapped to funded in 18 months, with practising accountants as both builders and distribution partners — represents a regional innovation pattern worth watching.

For a global buyer, the company’s agent-layer approach (audit, tax, receivables) positions it as a potential bolt-on for any international platform seeking AI-native SME compliance capabilities built from inside a GST-regulated market.

“We didn’t build Hisabkitab because we spotted a market opportunity on a slide deck. We built it because we lived with the problem ourselves,” said Shrigopal Malani, Co-founder & CEO. “Every tax season, every reconciliation challenge and every late-night filing reinforced one belief — accounting could be simpler, faster and far more intelligent.”