SaaS Billing Startup Zenskar Bags Funding To Help Companies Address Pricing Issues

Bengaluru and New York-based SaaS billing platform Zenskar has raised $3.5 Mn in a seed round led by Bessemer Venture Partners. 

The round also saw participation from Shine Capital, Basecamp Fund and Converge. Zenskar plans to use the incoming funds to hire people in engineering and increase its product development pace. The startup is also planning to advance its go-to-market initiatives with the incoming funds.

Founded in 2022 by Apurv Bansal and Saurabh Agrawal, Zenskar offers a billing platform for SaaS companies that enable them to handle pricing issues. The startup provides solutions including usage-based pricing, subscriptions, discounts, credits, custom currencies, prepaid and postpaid, among others.

Global spending on SaaS tools continues to grow. As such, pricing is evolving from normal billing cycles to granular, consumption-based pricing as users get more price-conscious. These complexities end up delaying product launches and pricing changes. Zenskar’s billing platform is solving these problems.

The startup’s platform has a drag-and-drop interface that allows non-technical users to configure deal structures. Zenskar’s platform allows users to automate accounting and provide analytics, while also streamlining receivables management workflows. The platform provides integrations with CRM, CPQ and ERP.

Speaking on the development, 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. This round of funding provides us with the fuel to accelerate our efforts as we embark on this ambitious journey.”

Adding to Bansal’s comment, Agrawal said, “Our flexible billing platform enables sales teams to get creative with pricing while guarding finance teams against billing inaccuracies and delays.” 

Bansal added that with Zenskar’s platform, SaaS startups can free up their engineering resources from developing billing solutions. Further, finance teams at SaaS startups can recognise accounting entries accurately in a low-code to the no-code manner, depending on business and pricing nuances.

Over the last few quarters, SaaS and enterprisetech have emerged as one of the biggest startup segments within India’s startup ecosystem. There are 20 enterprisetech unicorns in the country, the third-most of any sector after fintech and ecommerce.

According to an Inc42 report, enterprisetech startups raised $423.5 Mn across 58 funding deals in Q3 2022, second only to fintech. Overall, enterprisetech startups have raised $11.79 Bn across 1,440 deals between 2014 and Q3 2022.

Even as funding winter descends upon India’s startup ecosystem, enterprisetech is projected to continue its upward trajectory, fueled by increased demand for SaaS solutions across the country and the world.