This investment is from Accel's Fund VII and is the first external investment for Finbots.AI.
The funds will be used towards accelerating product enhancement, marketing and sales, and customer support besides recruiting of senior talent and team expansion across its offices.
Since its inception in 2017, Finbots.AI identified an opportunity to use AI-powered solutions to aid banks and financial institutions to overcome industry challenges. ZScore is a full-scale AI-driven credit scorecard system for lending institutions that spans the entire credit lifecycle. Equipped with an intuitive user interface and robust scorecard development capabilities, ZScore develops higher accuracy credit scorecards by using advanced machine learning algorithms that utilise historical traditional and alternate data to automatically build, validate, and deploy real-time, high-performing risk models.
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