Finbots.AI Raises $3 Million To Bring AI Into Banking
In a round of Series A funding, Finbots.AI has raised $3 Million with plans to expand business and it's ZScore service for enhanding credit score calculation with AI.
Created on April 28|Last edited on April 28
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Finbots.AI sees a spot in the market for the use of AI in banking, particularily in the fair calculation of credit scores. Many prospective borrowers might face difficulty with legacy platforms and practices which determine they're too high risk, when they're actually perfectly suitable to borrow
Finbots.AI is offering a solution, bringing what they claim is a fair and balanced method into the credit scoring business with ZScore, their advanced AI-powered solution for credit score calculation. ZScore works across the whole credit cycle and offers a number of easily accessible capabilities to help assign credit scores and manage borrowers.
Who's funding Finbots.AI and where is the money going?
In a Series A funding round led by sole contributor and Accel, Finbots.AI has raised $3 Million. Earlier funding efforts (a total of $1.2 Million) had been entirely contributed by Finbots.AI's founder, Sanjay Uppal.
With this raised money from their first outside investor, Finbots.AI plans to continue enhancing their ZScore service, bolster marketing and sales, and improve customer support. The are also looking to hire senior talent to expand their team. Additionally, with 3 offices currently stationed in key countries, Finbots.AI is looking to expand it's influence further across the rest of Asia.
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