CRMNEXT raises $16 million from Avataar Ventures, Ascent Capital

Startup provides enterprise solutions for banks and financial services companies, has offices in 11 countries

CRMNEXT, a startup that provides enterprise solutions for banks and financial services companies, has raised $16 million in a funding round led by Avataar Ventures and Ascent Capital. The company will use the funds to double its workforce and expand globally.

“At a time when most banking centers were closed, we helped our customers smoothly scale their operations while also investing in being ready for the new normal including virtual relationship management, and newer AI driven customer engagement models,” said Nishant Singh, chief executive officer and founder of CRMNEXT about the Series B funding.

CRMNEXT has a team of about 1,000 people and plans to double it in three years. It serves 100 global enterprises in the banking and insurance space, including HDFC, SBI, BDO Unibank, Krungsri Consumer Finance, National Bank of Oman, Arab Bank and Metlife. Headquartered in Noida, CRMNEXT has offices in 11 countries across USA, West Asia, Africa and Southeast Asia.

“While CRMNEXT is already the most dominant financial services tech provider in Asia, we now have clear proof points of our products resonating even in western markets. We now already have our first 10 US bank customers with half of them already live, in record time,” said Nishant Rao, board member and founding partner of Avataar Ventures.