Synapse Analytics, a company that builds AI tools to help banks decide who to lend to, has raised $13 million in Series A funding led by Partech, The Condia reported. Algebra Ventures and Silicon Badia also invested, bringing its total funding to $17 million.
What it does
Founded in Cairo in 2018 by Ahmed Abaza and Galal Elbeshbishy, and now headquartered in Abu Dhabi, Synapse Analytics provides AI-powered decision and risk infrastructure for regulated financial institutions. Banks can build, test and manage their own credit and risk policies on the platform while keeping full control of their data.
The company is increasingly building AI agents that work alongside bank staff, spotting opportunities and risks, growing loan portfolios and reacting quickly as borrower behaviour changes.
Results so far
- Its technology has supported more than $200 million in lending.
- It says it has helped clients cut non-performing loans by up to 40%.
- Customers include banks, non-bank lenders, fintechs and telecom companies in the Middle East, Africa and Latin America.
The new money will go into hiring, product development and expansion into new international markets.
Why it matters
Bad loans are one of the biggest problems for African lenders, including Nigeria’s digital lenders and microfinance banks, many of which lend to people with little or no credit history. Better decision tools that use AI, while keeping data under the lender’s control, could help banks lend more safely to more people. That need is also why credit infrastructure startups continue to attract investment even in a tight funding market.
Source: The Condia.
