500 Startups backed accounting automation start-up Bizzi

As more businesses ramp up their digital transformation initiatives in the wake of the Covid-19 crisis, companies offering automation services are seeing an opportunity.

Vietnam-based Bizzi.vn is one such model. The startup built up a bookkeeping digitized instrument utilizing robotic process automation (RPA) as it plans to rearrange and digitize the financial operations of companies.

The firm in May, 2020, declared that it has secured an undisclosed amount of seed financing from 500 Startups and other angel investors.

Bizzi works on top of an existing accounting software to robotize financial processes like receipt scanning, bills payments, bookkeeping and compliance, among others.

It utilizes AI to better understand data context and increase the platform’s accuracy. As indicated by the startup, its solution can save the money and time by 80%, which businesses spend on daily financial processes.
Co-founder and CEO of Bizzi, Nghia Vu quoted “This new funding will allow us to accelerate growth towards our vision that every accountant should spend their time advising and crunching the numbers instead of doing manual work.”

Vietnam’s advanced economy is expected to reach US$30 billion by 2025, which is US$9 billion more in 2018, as per a report. On the off chance that it prevails in digital transformation, its GDP could reach US$162 billion in next 20 years.
The startup explained that it presently serves accounting firms, large scale enterprises and small businesses with clients such as nutritional products distributor 3A Nutrition, South Korean convenience store chain GS25, market expansion provider DKSH, among others.
Preceding its interest in Bizzi, 500 Startups also sponsored other early-stage startups in the region that are deploying RPA. Its portfolio includes Singapore-based Glee Trees that adds AI to its automation product and Hong Kong-based Talkpush, which seeks to automate recruitment procedure.