AppZen, a FinTech company specialising in autonomous finance and AI-powered automation for global enterprises, has raised $180m in fresh funding.
The growth round was led by Riverwood Capital, a technology-focused investment firm known for scaling innovative businesses. As part of the deal, Riverwood Capital co-founder Francisco Alvarez-Demalde and partner Alex Porto have joined AppZen’s board of directors.
AppZen provides an AI-native platform designed to automate finance workflows. Built on proprietary ZenLM models and the Mastermind AI Automation Platform, the company’s agentic AI technology streamlines expense management, accounts payable and corporate card operations. More than 500 organisations worldwide, including over 65 Fortune 500 companies, use the platform to cut costs, reduce fraud, and ease compliance across complex financial environments.
The latest capital injection will be used to accelerate adoption of agentic AI, with AppZen aiming to convert standard financial processes into digital co-workers that can perform more than half of manual finance tasks. The company said this will help enterprises scale operations without increasing headcount or relying on outsourcing providers.
AppZen has reported that its technology has already delivered more than $2bn in savings for clients, enabling finance teams to shift two-thirds of their manual workload into higher-value activities. Its solutions support multi-entity and multi-currency operations in more than 60 countries and across 40 languages.
Anant Kale, AppZen co-founder and CEO, said, “We’re thrilled to welcome Riverwood Capital as a partner in our mission to bring agentic AI to every finance team. Riverwood’s scale-up expertise and global network will help us accelerate the deployment of Mastermind AI Agents, so finance workflows can run on autopilot. With many of the world’s largest companies already on AppZen, demand for autonomous finance has never been higher. Together with Riverwood Capital, we’ll meet that customer need at scale and realize the full opportunity to reimagine how CFOs run finance.”
Francisco Alvarez-Demalde, Riverwood Capital co-founder and managing partner, said, “AppZen is at the forefront of a massive shift in how global enterprises leverage AI and automation to drive efficiency and scale their operations. We are excited to partner with Anant and his exceptional team, whose vision and execution have made AppZen the category leader in autonomous finance for the enterprise and positioned the company to transform how businesses manage, audit, decide, and run expenses and payables.”
The company’s recent innovations include the launch of the Mastermind AI Studio, which allows finance teams to design and deploy AI-powered digital workers without coding or specialist IT support. Airbus has already reported benefits from AppZen’s technology. Waqas Aman, head of financial systems North America at Airbus, said, “AppZen’s impact at Airbus was immediate. It significantly reduced the workload for our T&E analysts, allowing them to focus on more strategic activities. The platform helped us identify ambiguities in our T&E policies and eliminate inconsistent micro-policies throughout the company.”
Industry analysts highlight that finance teams are under growing pressure to cut costs and strengthen compliance. With the global AI market forecast to rise from $290bn in 2025 to $1.7tn by 2032, AppZen is positioning itself as a leader in the enterprise shift from process automation to fully autonomous finance.
Source: https://fintech.global/
