BUSINESSNEXT secures $40m to expand AI banking platform

Mumbai-based BUSINESSNEXT has raised $40 million in a Series C funding round led by ServiceNow Ventures, valuing the banking technology provider at $700 million. The investment has aimed to strengthen the company’s autonomous banking capabilities and accelerate the deployment of Private AI solutions tailored for financial institutions.

The funding has reinforced a strategic partnership between BUSINESSNEXT and ServiceNow, with both companies planning to develop a unified autonomous operating platform for banks and financial services firms. The collaboration has sought to bridge the gap between customer-facing systems and enterprise operations, enabling financial institutions to automate processes such as customer onboarding, lending and financial advisory services while maintaining regulatory compliance and governance.

Nishant Singh, CEO of BUSINESSNEXT, said: “Autonomous banking is not a vision we are chasing—it is a category we have been building for years. As AI has matured, this investment has further accelerated our efforts to deliver Private AI solutions that meet the unique security, regulatory governance and data sovereignty requirements of banking and financial services.”

According to the company, the joint offering has targeted a market projected to reach $3.59 billion by 2035, supported by increasing demand for AI-driven banking operations.

Adrian Johnston, President, APAC, ServiceNow, said: “This investment reflects ServiceNow’s commitment to delivering industry solutions that solve real business challenges rather than generic platforms requiring years of customisation.”

BUSINESSNEXT has stated that its platform currently supports more than one million users, 75,000 branches and over one billion end customers globally. The company has combined AI-led decisioning, customer engagement, lending automation and agent-driven execution within a single banking platform.

The company has also highlighted its recognition as a Leader in the Forrester Wave™: Customer Relationship Management Software for Financial Services, Q1 2025, where its banking-specific workflows, customisation capabilities and predictive, generative and agentic AI features have been identified as key differentiators.