ServiceNow bets $40 million on Indian banking software specialist to expand its financial services push
ServiceNow, an enterprise software company, invested $40 million in BusinessNext, an Indian banking software firm, valuing it at $700 million and acquiring a 5% stake. The investment allows BusinessNext access to ServiceNow’s global sales network and enables the two companies to expand their partnership in AI for financial services. BusinessNext, which serves over 70 banks across multiple regions, aims to leverage ServiceNow’s workflow automation expertise to strengthen its position in the banking sector and accelerate its expansion.
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