ServiceNow Invests $40 Million in BusinessNext to Expand Banking AI Push

BusinessNext, based in Noida, India, sells AI-powered software designed to automate banking operations and serves more than 120 customers, including State Bank of India and HDFC Bank. ServiceNow is best known for cloud-based enterprise workflow software and has been pushing deeper into industry-specific AI. The partnership combines BusinessNext’s banking expertise with ServiceNow’s global distribution and AI orchestration, giving both companies a broader route into financial-services technology.

BusinessNext said on July 22, 2026, that it raised $40 million in a Series C round from ServiceNow Ventures, giving the U.S. software company roughly a 5% stake and valuing the Indian firm at $700 million. That compares with a reported valuation of $181 million in 2021. Chief Executive Nishant Singh said the funding would mainly strengthen sales, initially targeting distribution growth in Southeast Asia and Australia, while expanding autonomous-banking and private-AI capabilities.