Surat-based Hisabkitab has closed a seed round, pulling in an undisclosed amount from a mix of angel investors and high-net-worth individuals. The round values the accounting startup at ₹20 crore, and the company says the money is earmarked almost entirely for building out its AI stack.

Where the money is going

Hisabkitab wants to build what it's calling an AI Intelligence Layer, a set of purpose-built agents sitting on top of its existing accounting software. The first batch includes:

• An Audit Agent
• A Tax Preparation Agent
• An Accounts Receivable Agent
• An Accounts Payable Agent
• A handful of other financial assistants still in the works

The pitch is straightforward: instead of a bookkeeper manually chasing reconciliations, tax filings, and overdue invoices, these agents handle the repetitive parts and flag exceptions for a human to review. Whether that plays out as cleanly in practice as it does in a press release is the usual open question with AI-agent claims, but the direction is at least consistent with where most accounting software is headed right now.

Who's behind it

Hisabkitab was founded in 2022 by chartered accountants Shrigopal Malani and Abhinav Sharma. Both came up through actual accounting practice, not a product-management background, and that shows up in how the company talks about the problem it's solving: tax filings, reconciliations, and the general grind of manual financial paperwork that eats up SME owners' time.

Malani, who serves as CEO, framed the round as validation of that founder-led approach rather than something spotted on a pitch deck. Sharma, the co-founder and CMO, put the emphasis on customer trust, arguing that reliability and follow-through matter more long-term than any single feature launch.

What the platform actually does

Hisabkitab is a cloud-native accounting platform aimed at small and medium businesses. It bundles invoicing, bookkeeping, inventory tracking, GST compliance, e-way bills, e-invoicing, and financial reporting into one system, with AI-powered document scanning already live. The idea is to replace the usual stack of separate billing, bookkeeping, and compliance tools that most SMEs end up cobbling together over time.

The numbers so far

The startup says it has crossed 30,000 sign-ups and now counts more than 2,700 paying SMEs and startups as customers. Monthly revenue has moved from ₹4.18 lakh in May 2025 to ₹25.01 lakh in June 2026, roughly a sixfold jump in about 13 months. None of these figures come with audited statements attached, so they're worth treating as company-reported until independently verified.

Where the funding goes next

Beyond the AI build-out, Hisabkitab plans to lean harder into performance marketing and organic acquisition, expand its Chartered Accountant Partner Programme across India, and hire across product and business roles. The CA partner channel is worth watching in particular, since a lot of SME accounting software gets adopted on the recommendation of the accountant handling the books, not through the SME owner searching for a tool on their own.

A crowded field

India's accounting software market isn't short on options. Hisabkitab is going up against Vyapar, Tally, Khatabook, MyBillBook, Zoho Books, Busy, Swipe, and Refrens, alongside the much larger and harder-to-dislodge competitor: SMEs that just run everything off Excel. Market research cited by the company puts the sector at roughly $699 million in 2025, growing to about $1.5 billion by 2034 at a CAGR of 8.83%. Rising GST compliance requirements and broader cloud adoption are the usual tailwinds cited for that growth, and AI-driven automation is increasingly part of the pitch every player in this space is making, not just Hisabkitab's.

The bigger picture

A ₹20 crore valuation is modest by startup standards, and this is still an undisclosed, early seed check rather than a marquee round. What makes it worth noting is the pattern: another accounting SaaS company betting that bolting AI agents onto a traditional back-office product is the way to win share from entrenched incumbents like Tally and Zoho Books. Whether Hisabkitab's CA-led distribution and six-fold revenue growth are enough to carve out real space in that market will depend a lot on execution over the next few quarters, not just on how many AI agents make it into the product.