Mysa, the AI-powered business banking and expense management platform, has raised $3.4 million (approximately ₹30.5 crore) in a Pre-Series A funding round. The round was co-led by Blume Ventures and Piper Serica, with participation from Ikemori Ventures, Raise Financial Services, QED Innovation Labs, and existing backers Antler, IIMA Ventures, and Neon Fund.
This fresh injection of capital follows a $2.8 million seed round in early 2025, bringing Mysa’s total funding to $6.2 million. The Bengaluru-based startup will use the proceeds to deepen its AI automation stack and launch a suite of new banking products, including UPI-linked expense management, a corporate credit card, and AI-enabled procurement tools.
The “Operating System” for Mid-Market Finance
Founded in 2023 by Arpita Kapoor and Mohit Rangaraju, Mysa is designed to be the financial backbone for India’s “backbone economy”—mid-sized businesses with annual revenues between ₹10 crore and ₹300 crore.
While large enterprises have expensive ERPs and small startups use basic tools, mid-market firms often struggle with fragmented workflows across multiple bank accounts and legacy accounting software. Mysa provides an “instant AI upgrade” by plugging directly into existing systems without requiring a full migration.
Core Platform Features:
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Smart Scan: AI-driven extraction of invoice context, tax details, and line items.
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Unified Banking: Integrated current account operations and multi-bank connectivity across 15+ major banks, including HDFC, ICICI, Axis, and Yes Bank.
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Automated Reconciliations: Real-time 2-way and 3-way matching between bills, payments, and ERP ledgers.
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GST Compliance: Automated input tax credit (ITC) checks and vendor verification.
“Finance teams today are expected to move faster while managing more complexity, but the underlying infrastructure hasn’t evolved,” said Arpita Kapoor, Co-founder & CEO of Mysa. “We’re building an AI-driven platform that plugs seamlessly into legacy ERPs and banks, enabling teams to scale without adding operational risk.”
Growth and Market Impact
In less than a year since its public launch, Mysa has witnessed significant traction:
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Transaction Volume: Processing over ₹1,500 crore in annualized transaction volume.
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Payment Scale: Facilitating payments to more than 40,000 unique bank accounts across India.
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Client Portfolio: Serving high-growth companies across quick commerce, manufacturing, and real estate, including Dhan, Wint Wealth, Swish, DrinkPrime, and Material Depot.
Investor Perspective
“This is a massive, underserved opportunity in India,” noted Ajay Modi, Director of Investments at Piper Serica. “Mid-size businesses struggle with inefficient banking workflows, often paying huge upfront fees to service companies to solve gaps in legacy ERPs. Mysa is creating a new category.”
Joseph Sebastian, VP at Blume Ventures, added: “The team’s first-principles understanding of finance pain points is reflected in their near-zero churn. The multi-banking architecture makes it a natural upgrade layer for any modern finance team.”
By: Vanshika Tayal
