Bengaluru-based ‘no code AI platform’ Signzy on Tuesday announced that it had raised fresh round of $5.4 million from Arkam Ventures and Mastercard. Its existing investors — Kalaari Capital and Stellaris Venture Partners — also participated in the current round.
According to the company statement, Signzy will use the fresh funds to strengthen its AI research, product enhancement, and sales team expansion to address the surge in demand from global and India clients.
Founded in 2015 by IIT graduates and serial entrepreneurs Ankit Ratan, Ankur Pandey, and Arpit Ratan, Signzy helps financial services automate risk and compliance processes. Given the ongoing COVID-19 pandemic, it claims to deal with a massive surge in global demand for its solutions.
The startup provides digital KYC solutions to over 100+ banking and financial services globally, along with the four largest banks in India, including State Bank of India (SBI) and ICICI Bank among them, and a Top 3 acquiring Bank in the US. Globally, Signzy has a strong partnership with Mastercard and offices in New York and Dubai to serve its customers in the these geographies.
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