The round also saw participation by Ikemori Ventures, Raise Financial Services, QED Innovation Labs and existing investors Antler, IIMA Ventures and Neon Fund, according to a statement from the company on Tuesday.
With this, Mysa’s total funding has reached $6.2 million. The startup had raised $2.8 million in a seed funding round led by Blume Ventures last February.
Founded by Arpita Kapoor and Mohit Rangaraju, Mysa builds software that integrates with legacy enterprise resource planning (ERP) systems and banking infrastructure of mid-sized companies, helping finance teams automate workflows without requiring system migration.
The platform covers vendor management, accounts payable, expense management, GST input tax credit checks and multi-bank payment operations.
The Bengaluru-headquartered company plans to use the fresh capital to expand its automation capabilities and launch additional banking products, including procurement tools, expense management linked to the Unified Payments Interface (UPI), and a corporate credit card. It is also looking to explore embedded financing opportunities through its vendor network.
Mysa said it currently processes over Rs 1,500 crore in annualised transaction volumes and facilitates payments to more than 40,000 bank accounts. It has integrations with over 15 banks, including Axis Bank, Yes Bank, IDFC First Bank, ICICI Bank and HDFC Bank.
“Finance teams today are expected to move faster while managing more complexity, but the underlying infrastructure hasn’t evolved,” said Kapoor, who is CEO of Mysa. “We’re building an AI-driven automation platform that plugs seamlessly into legacy ERPs and banks, enabling teams to scale without adding operational risk—at zero upfront cost and with no migration required.”
The company said its customers span sectors such as quick commerce, manufacturing, hospitality, fintech and real estate, including companies such as Dhan, Wint Wealth, Swish, DrinkPrime and Material Depot.
Investors said mid-sized businesses in India remain under-served by existing finance software.
“This is a massive, under-served opportunity in India, where mid-size businesses continue to struggle with fragmented and inefficient financial and banking workflows, paying service companies upfront fees to solve for gaps in legacy ERPs,” said Ajay Modi, director of investments at Piper Serica. “Mysa is creating a new category by combining AI-driven automation with deep bank integrations.”
