How This Bengaluru Startup Is Tackling Enterprise Finance’s Costly Blindspot
by Shraddha Goled · Inc42SUMMARY
- OneCap is using agentic AI to automate financial reconciliation, a process that still remains heavily manual across most enterprises.
- The startup claims to have analysed over 10 Mn transactions worth ₹17,000 Cr, identifying discrepancies that often lead to revenue leakage.
- With a six-member team and AI-powered 'virtual employees', OneCap is betting on an AI-native operating model for enterprise finance.
- Added to Saved Stories in Login
Despite rapid advances in enterprise AI, one of corporate finance’s most critical functions remains surprisingly manual.
Financial reconciliation, the process of matching internal accounting records with external documents, such as invoices, purchase orders and bank statements, is still largely driven by spreadsheets and human verification.
For enterprises processing millions of transactions, it often means weeks of manual work before finance teams can confidently close their books.
Bengaluru-headquartered Onecap believes AI can finally automate that process, helping businesses detect discrepancies long before they become expensive write-offs. It was founded by Sandeep Nambiar and Gururaj Laxmayya, who have worked across fintech firms such as Perfios, Open Financial Technologies, and PayPal.
Closing Books In Real Time
Despite being critical to financial reporting and cash flow management, reconciliation continues to be treated as a back-office function. As businesses scale, finance teams often respond by hiring more people to manually compare invoices, purchase orders, bank statements and ERP records, a process that has changed little over the years.