The company will use the fresh capital to strengthen its artificial intelligence capabilities by developing its AI Intelligence Layer, which will include an Audit Agent, Tax Preparation Agent, Accounts Receivable Agent, Accounts Payable Agent, and several other AI-driven solutions, according to a company statement.

Founded in 2022 by Shrigopal Malani and Abhinav Sharma, Hisabkitab integrates artificial intelligence, cloud technology and end-to-end accounting capabilities into a single platform. As a result, businesses can replace multiple billing, bookkeeping, compliance and financial reporting tools with one unified solution.

The Surat-based startup said its platform improves accounting accuracy, operational productivity and financial visibility by combining automation with an integrated software ecosystem. Consequently, businesses no longer need to manage multiple disconnected software subscriptions.

According to market research, the Indian accounting software market reached a value of nearly $699 million in 2025 and is projected to grow to almost $1.5 billion by 2034, registering a compound annual growth rate (CAGR) of 8.83 percent between 2026 and 2034.

Hisabkitab said it has attracted more than 30,000 sign-ups while serving over 2,700 paying SMEs and startups. Additionally, the company reported nearly sixfold growth in monthly revenue, which increased from ₹4.18 lakh in May 2025 to ₹25.01 lakh in June 2026.

Going forward, the startup plans to invest in customer acquisition through performance marketing and organic growth initiatives. It also intends to expand its CA Partner Program across India while strengthening its product and business teams through strategic hiring.

Hisabkitab competes with accounting software providers including Vyapar, Tally, Khatabook, MyBillBook, Zoho Books, Busy and Swipe, while also targeting businesses that continue to rely on manual Excel-based accounting workflows.

With fresh funding and a growing customer base, Hisabkitab aims to accelerate product innovation, strengthen its AI-powered accounting ecosystem and expand its presence in India’s rapidly growing accounting software market.

Founded to solve key gaps in traditional business banking, Incard addresses the challenges founders face when managing cash flow, invoicing, and spending across multiple disconnected tools. Entrepreneurs Theo Cesarini, Soraya Tribouillois, Liam Seskis, and Matteo Martino created the company and launched the platform in 2024 to bring these critical financial functions together in a single system designed to scale alongside fast-growing digital businesses.

At the product level, Incard’s financial operating system integrates banking, payments, and essential financial tools into one unified platform. As a result, the system centralises financial operations, delivers real-time cash flow visibility and spending insights, and supports industry-specific workflows through modular add-ons.

Commenting on the company’s progress, Theo Cesarini, CEO of Incard, said the team has built a control layer for the financial stack of high-growth digital businesses and is now focused on expanding platform access so more companies can effectively manage, automate, and optimise their finances.

In practice, the platform offers business banking, corporate cards, and connected bank accounts through a single interface. Additionally, companies can extend the platform using tools from the Incard App Store, selecting features that match their industry and growth stage, including invoicing, spend management, treasury, working capital, and other financial capabilities.

Meanwhile, Incard has seen strong adoption among high-growth digital businesses across the UK and Europe, particularly companies with heavy advertising spend, foreign exchange exposure, and complex multi-entity structures.

Looking ahead, the company plans to use the new funding to expand into additional markets, including Europe and the US. Furthermore, Incard will enhance its product suite and invest more deeply in automation, AI-driven financial workflows, and team expansion across engineering, compliance, and product development.

With this acquisition, Brex will integrate into one of the largest financial institutions in the United States. As a result, the deal highlights the increasing pressure on traditional banks to deliver the speed, automation, and flexibility that fintech firms already offer. “Acquiring Brex accelerates this journey, especially in the business payments marketplace,” Richard Fairbank, Capital One’s founder and CEO, said in a statement.

Previously, in September 2025, Brex revealed plans to introduce native stablecoin payments, starting with USDC. Through this initiative, the company intended to allow customers to pay balances, send payments, and receive funds with automatic conversion into U.S. dollars. According to Brex, this feature enables businesses to manage both conventional and stablecoin-based spending through a unified platform.

Founded in 2017, Brex initially focused on issuing corporate cards to startups that struggled to access services from traditional banks. Over time, however, the company broadened its offering significantly.

“We started Brex in 2017 by inventing a new category of company that brings together financial services and software into one platform,” Pedro Franceschi, Brex’s founder and CEO, wrote on X. “Brex serves tens of thousands of businesses today, from one in three startups in the U.S. to some of the most important enterprises on the planet.”

Subsequently, Brex expanded into expense management, digital banking features, and AI-powered tools designed to optimize corporate spending. Franceschi emphasized that the acquisition reflects a growth-oriented partnership rather than a conventional consolidation.

“This combination is unlike any other bank M&A in history,” Franceschi said. “This story is about growth acceleration and two founder-led companies coming together to bring a better way to manage money to millions of businesses in the mainstream U.S. economy, who are dramatically underserved by traditional banks.”

In parallel, Brex has increasingly positioned artificial intelligence as a foundational layer of its financial platform. The company actively uses AI to categorize expenses, enforce spending controls in real time, and flag anomalies for review. Additionally, Brex provides an AI assistant that automates routine processes such as receipt matching and expense reconciliation.

Although Capital One has not disclosed specific plans to integrate Brex’s AI capabilities into its existing commercial banking products, the company confirmed that leadership continuity will remain intact. Following regulatory approvals, Franceschi stated that he will continue to serve as Brex’s CEO after the transaction closes.

Capital One’s acquisition of Brex marks a significant step in the convergence of traditional banking and fintech-driven innovation. By combining Capital One’s scale with Brex’s software-first, AI-enabled platform, the deal positions both companies to accelerate growth and better serve underserved business customers. As banks increasingly adopt technology-led strategies, this transaction underscores how partnerships between incumbents and fintech firms are reshaping the future of business finance.

In an exchange filing, the company stated that it will issue 10.58 lakh warrants at INR 567 each to promoter group entity RAN Ventures Pvt Ltd and non-promoter company Bennett Coleman and Company Ltd (Times Group).

Zaggle has not disclosed the specific use of the newly raised funds, but the company has been actively pursuing acquisitions. Most recently, it announced plans to acquire golf-centric rewards platform Greenedge for INR 25 crore.

In a separate move, Zaggle revealed that it has agreed to extend a loan of INR 15 crore to Dice Enterprises for working capital needs. The loan will be provided over a 12-month period at an interest rate of 12% per annum, in one or more tranches, and is repayable on demand.

Earlier in June, Zaggle acquired enterprise spend management startup Dice Enterprises for INR 123 crore, stating that the deal will strengthen its product portfolio, provide access to Dice’s customer base, and help scale operations in India and globally.

Additionally, the company has entered agreements to acquire UPI payments startup Rio.Money and increase stakes in Effiasoft and Mobileware Technologies this year.

Zaggle’s acquisition momentum was fueled by its maiden QIP completed in December, which supported its growth targets. The company aims to achieve a gross revenue of INR 2,000 crore in FY26, along with a net profit of INR 200 crore through these acquisitions.

For the first quarter of FY26, Zaggle’s consolidated net profit jumped 56% to INR 26.1 crore from INR 16.7 crore in the same period last year, while its revenue grew 32% YoY to INR 252.2 crore.

The Reserve Bank of India (RBI) will partner with local IT firms to create the cloud platform. This move directly competes with major players like Amazon Web Services, Microsoft Azure, Google Cloud, and IBM Cloud. Notably, this is the first time a global central bank has attempted such a large-scale cloud initiative.

Asia’s third-largest economy has a rapidly growing cloud market. Valued at $8.3 billion in 2023, it is projected to reach $24.2 billion by 2028, according to the International Data Corporation. Despite this growth, foreign companies dominate the sector. 

“We want to start implementing on a smaller scale in the next few months,” said one of the two sources, a senior executive working on the project.  

The RBI aims to address this imbalance and cater to smaller financial firms that find existing solutions expensive.

RBI Governor Shaktikanta Das first revealed plans for the public cloud in December 2023. Although the RBI has not shared official details, the initiative will initially cater to smaller banking and financial firms. Expansion is planned over the next few years to ensure the service meets local needs.

The Indian Financial Technology and Allied Services (IFTAS), RBI’s research arm, leads the initial development. Later, private technology firms will join as partners to enhance the platform. To guide the project, the RBI has appointed Consultancy firm EY as its advisor.

Funding for the project will come from RBI’s asset development fund, which holds ₹229.74 billion ($2.72 billion). Eventually, financial firms may be invited to invest and have equity in the initiative. The RBI’s push for data localization further underscores the importance of this project in reshaping India’s financial infrastructure.

The RBI requires all bidders to be Indian-incorporated firms with cloud development experience. These firms must establish data centers in Mumbai and Hyderabad, either independently or as part of a consortium.

This initiative signifies a milestone in India’s financial technology journey, combining innovation and localization to transform cloud services.

“We have a humongous amount of interest (from private players who want to partner). A significant number of IT companies, as well as Indian cloud services companies, have expressed their interest,” the source added.

The introduction of FlowWise aligns with Cashfree’s objective to enhance its product offerings, expand its reach, and attract a larger customer base, as stated by the payments and API banking company.

“With FlowWise, Cashfree Payments has introduced an innovative and industry-first concept of ‘self-hosted payments orchestration’, allowing payment management to take place directly on the merchant’s infrastructure,” it said.

FlowWise, the payment orchestration platform from Cashfree Payments, is designed to reduce processing costs by up to 40% and elevate success rates by up to 10%. In addition, it enhances the security of the payment system by mitigating risks such as data leaks.

“This launch aligns with our vision of creating fintech solutions that will help build strong and successful businesses. FlowWise will assist merchants to reduce payment processing costs up to 40% along with enabling them to provide a seamless checkout experience. We are confident that ‘FlowWise’ will become the top choice of business owners, especially internet merchants, given its easy integration and high success rates,” said Akash Sinha, CEO and Co-founder, Cashfree Payments.

FlowWise employs a unique ‘multi-armed bandit’ classifier to make more informed decisions, resulting in an enhancement of success rates by up to 10%. The platform continuously tests various payment gateways, particularly those presenting user challenges. This dynamic testing approach allows for swift switching between options, leading to improved success rates.

Ramkumar Venkatesan, CTO, Cashfree Payments, said, “This is a powerful no-code and user-friendly payment orchestration platform that serves as the central intelligence for a merchant’s payment infrastructure.”

Cashfree emphasized that FlowWise is designed to simplify the complexity and effort associated with using multiple Payment Gateways (PGs) for businesses. The platform transforms this process into a straightforward plug-and-play experience, eliminating the need for intricate coding.