ServiceNow bets $40 million on Indian banking software specialist to expand its financial services push
TechCrunch AI Jagmeet Singh
ServiceNow invested $40 million in BusinessNext, an Indian banking software company, taking a roughly 5% stake at a $700 million valuation and gaining access to partnership opportunities in financial services AI. BusinessNext generated approximately $32 million in revenue last year and serves over 70 banks including India's central bank and major lenders across India, Southeast Asia, the Middle East, and the U.S. The partnership combines ServiceNow's workflow automation platform with BusinessNext's banking expertise and AI agents, enabling the companies to jointly sell integrated solutions to financial institutions globally.
Why it matters
ServiceNow's investment gives BusinessNext a strategic partner to expand its AI-powered banking software globally.
