Surat-based accounting software firm Hisabkitab has raised an undisclosed seed round at a ₹20 crore valuation. The company plans to use the funds to build AI tools for tax and auditing while expanding its footprint among small businesses.
Surat-based accounting software provider Hisabkitab has announced the closure of a seed funding round, with the transaction valuing the early-stage enterprise at ₹20 crore. Founded in 2022 by Shrigopal Malani and Abhinav Sharma, the firm provides cloud-based tools specifically designed for small and medium-sized businesses to manage invoicing, inventory, and tax compliance.
Scaling Through AI Integration
The company intends to deploy the newly raised capital toward building an artificial intelligence layer within its existing platform. The proposed AI suite is planned to handle complex back-office functions such as automated auditing, financial forecasting, and the management of accounts payable and receivable. By incorporating these features, the firm aims to reduce the manual work traditionally associated with tax preparation and financial reporting.
Beyond product development, the company is prioritizing the expansion of its Chartered Accountant Partner Programme. This initiative is designed to increase user adoption by collaborating with tax professionals who serve as intermediaries for small business clients. The startup is also allocating resources to grow its product and business development teams to support this scaling effort.
Financial Performance and Market Position
Hisabkitab reports that its platform currently serves over 30,000 sign-ups, with more than 2,700 entities currently subscribed as paying customers. The company has shown a rapid increase in monthly revenue, reporting growth from ₹4.18 lakh in May 2025 to ₹25.01 lakh as of June 2026. While this six-fold increase in monthly revenue indicates growing demand for cloud-based accounting solutions among small businesses, investors should note that these figures have not been validated by audited financial statements.
Market Context and Risks
The financial technology and accounting software sector in India is highly competitive, featuring both established global players and well-funded domestic incumbents. Hisabkitab operates in a space where customer trust is built on data security, regulatory compliance, and system reliability. For startups in this domain, a key risk remains the intense competition from larger firms that offer bundled enterprise resource planning solutions. Additionally, as the company scales its AI capabilities, it will need to manage the costs associated with cloud infrastructure and technical talent. The ability to maintain high retention rates among its paying user base will be a critical monitorable for the company's long-term sustainability as it moves beyond the initial seed-funding phase.