Finbots.AI, an AI-powered credit score scoring software program supplier, introduced it has raised a US$3 million Collection A funding spherical.
This spherical noticed the participation of a single investor – Accel, that made this funding from its Fund VII and this marks the primary exterior funding Finbots.AI has raised.
With this fundraise, Finbots.AI stated that it’s going to look in direction of accelerating product enhancement, advertising and gross sales, and buyer help.
The agency can be seeking to recruit senior expertise and develop its group throughout its workplaces. It has ambitions to proceed rising its headcount to a complete of fifty by the top of 2022 and increasing its footprint into the remainder of Asia.
Finbots.AI’s superior AI-powered credit score scorecard system, ZScore, permits organisations to quickly develop excessive accuracy scorecards and course of functions in actual time.
The agency at present has workplaces in Singapore, India (Hyderabad) and the United Arab Emirates (Dubai).
Sanjay Uppal
Sanjay Uppal, Founder and CEO of Finbots.AI stated,
“We’re thrilled to have Accel as a companion on this journey, additional cementing the potential and belief in our resolution.
Accel’s spectacular observe file with development stage corporations will probably be a key help for Finbots.AI. We have now an unlimited development potential and I’m excited for our journey to remodeling monetary companies.”
Mahendran Balachandran
Mahendran Balachandran, Companion at Accel shared,
“The Finbots.AI group brings a long time of collective expertise in monetary companies and know-how, and we see nice potential and promise of their resolution – ZScore – because it strives to treatment and bridge the restrictions of legacy credit score techniques.
We, at Accel, are delighted to be part of Finbot.AI’s development as they propel ahead to reinforce monetary companies by leveraging AI know-how to serve the whole neighborhood – starting from the massive banks to the small lenders. We see huge potential on this area and fintech as a vertical.”
