- BUSINESSNEXT raised $40M in Series C funding led by ServiceNow Ventures at $700M valuation
- Funding will accelerate autonomous banking solutions and private AI adoption in financial firms
- Partnership aims to integrate AI with workflows for automated onboarding and lending processes
Banking technology platform BUSINESSNEXT has raised $40 million in a Series C funding round led by ServiceNow Ventures, valuing the company at $700 million. The fresh capital will be used to accelerate the development of autonomous banking solutions and expand the adoption of private artificial intelligence (AI) across banks and financial institutions.
The investment marks a strategic partnership between BUSINESSNEXT and ServiceNow as financial institutions increasingly adopt AI-powered technologies to automate customer engagement and back-end operations.
The companies aim to create a unified autonomous operating platform that integrates customer intelligence with enterprise workflows, enabling banks to automate processes such as customer onboarding, lending and financial advisory while maintaining regulatory compliance and data security.
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Commenting on the fundraise, Nishant Singh, Chief Executive Officer of BUSINESSNEXT, said the company has been building the autonomous banking category for several years and believes the maturity of AI technologies now presents a significant opportunity for financial institutions.
He added that the investment would help the company deliver private AI solutions tailored to the banking sector while ensuring compliance with governance, security and sovereignty requirements.
According to the company, the partnership addresses a long-standing challenge faced by banks, where customer-facing systems often lack execution capabilities while operational systems function without sufficient customer context.
By combining AI-led decision-making with enterprise workflow automation, BUSINESSNEXT aims to help banks improve operational efficiency, reduce turnaround times and deliver more seamless customer experiences.
Kulmeet Bawa, Group Vice President and Managing Director, India & SAARC at ServiceNow, said India's financial services industry is moving beyond digital transformation towards AI-led operations.
He said ServiceNow's investment reflects confidence in this transition and would combine the company's enterprise AI capabilities with BUSINESSNEXT's banking expertise to help financial institutions improve customer service and operational efficiency.
The company cited industry estimates suggesting that the autonomous banking market is expected to reach $3.59 billion by 2035, growing at a compound annual growth rate (CAGR) of 20.28%, presenting a significant opportunity for AI-driven banking platforms.
BUSINESSNEXT said its platform currently serves more than one million bankers across over 75,000 branches globally and supports more than one billion end customers. The company has spent over 15 years developing banking-specific AI capabilities spanning customer engagement, lending automation and agent-driven execution.
It added that its platform was recognised as a leader in the Forrester Wave for Customer Relationship Management Software for Financial Services in the first quarter of 2025, with the research firm highlighting its banking workflows, AI capabilities and ease of customisation.
The latest funding is expected to strengthen BUSINESSNEXT's global expansion plans while reinforcing India's position as a hub for AI-led financial technology innovation. As banks continue to invest in automation and AI-powered operations, the partnership with ServiceNow could help accelerate the adoption of autonomous banking solutions across global financial institutions.
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