ServiceNow, the U.S. enterprise workflow automation company, has invested $40 million in Indian banking software specialist BusinessNext, valuing the firm at $700 million and giving ServiceNow a roughly 5% stake. The deal expands the companies’ partnership around AI-driven financial services and grants BusinessNext access to ServiceNow’s global sales infrastructure.
BusinessNext, based in Noida and generating about $32 million in annual revenue, serves more than 70 banks across India, Southeast Asia, the Middle East, and the U.S., including the Reserve Bank of India, State Bank of India, and HDFC Bank. Founder and CEO Nishant Singh said roughly half of the company’s revenue already comes from outside India, with international markets expected to drive future growth. He said the company chose ServiceNow over financial investors specifically to leverage its global go-to-market capabilities in underpenetrated regions.
Singh described BusinessNext’s platform as focused on customer-facing banking workflows built around AI agents, complementing ServiceNow’s strength in back-office automation. ServiceNow’s Kulmeet Bawa said the partnership pairs ServiceNow’s enterprise workflow platform with BusinessNext’s banking-specific AI expertise as financial institutions shift toward full-scale AI adoption.
Founded in 2002 and formerly known as CRMNext, BusinessNext employs more than 1,300 people and has raised over $60 million in prior funding.
