Hyderabad based AI startup Finbots raises USD 3 Mn in Series A

Besides being a key market for the venture, India drives all of the global development and support for Finbots.AI.

Finbots.AI, an AI-led, innovation-driven venture, announced it has raised USD 3 million in a Series A round from Accel. The investment by Accel comes from Fund VII, and this is the first external investment for Finbots.AI. The funds will accelerate product enhancement, marketing and sales, and customer support besides recruiting senior talent and expanding its team across its offices. Besides being a key market for the venture, India drives all of the global development and support for Finbots.AI.

Sanjay Uppal, Founder and CEO of Finbots.AI, said, “This new funding unlocks the next phase of growth for FinbotsAI. Financial institutions need pathbreaking solutions to solve the complex challenges of legacy platforms. Tapping on AI-enabled solutions can help them transform exponentially. We are thrilled to have Accel as a partner in this journey, further validating the potential and trust in our solution. Accel’s impressive track record with growth-stage companies will be a key support for FinbotsAI. We have enormous growth potential, and I am excited for our journey to transforming financial services.”

Mahendran Balachandran, Partner at Accel, said, Finbots.AI team brings decades of collective experience in financial services and technology. We see great potential and promise in their solution – ZScore – as it strives to remedy and bridge the limitations of legacy credit systems. We at Accel are delighted to be a part of Finbot.AI’s growth as they propel forward to enhance financial services by leveraging AI technology to serve the entire community – ranging from the large banks to the small lenders. We see massive potential in the region and FinTech as a vertical.”


Sign up for your weekly dose of what's up in emerging technology.

ZScore, Finbots.AI’s advanced AI-powered credit scorecard system, democratises access to cutting-edge capabilities for all financial institutions, enabling them to develop high accuracy scorecards and process applications in real-time rapidly. Equipped with an intuitive user interface and robust scorecard development capabilities, it rapidly develops higher accuracy credit scorecards using advanced ML algorithms that utilise historical/traditional and alternate data to automatically build, validate, and deploy real-time, high-performing risk models. 

More Great AIM Stories

Poornima Nataraj
Poornima Nataraj has worked in the mainstream media as a journalist for 12 years, she is always eager to learn anything new and evolving. Witnessing a revolution in the world of Analytics, she thinks she is in the right place at the right time.

Our Upcoming Events

Conference, in-person (Bangalore)
Machine Learning Developers Summit (MLDS) 2023
19-20th Jan, 2023

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

Conference, in-person (Bangalore)
MachineCon 2023
23rd Jun, 2023

Conference, in-person (Bangalore)
Cypher 2023
20-22nd Sep, 2023

3 Ways to Join our Community

Whatsapp group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our newsletter

Get the latest updates from AIM