Leading startup Synapse Analytics, which enables companies to use AI for better decision-making, has successfully concluded its most recent funding round, raising $2 million led by Silicon Badia and Hub 71, Abu Dhabi. With the help of this calculated investment, Synapse Analytics will be able to spread its AI technology throughout Africa and the GCC, revolutionizing the financial industry.
Synapse Analytics is a component of Abu Dhabi’s international technology hub, Hub71. With its state-of-the-art artificial intelligence (AI) software for financial decisions, including credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB (Know Your Customer/Business) procedures, the startup is well-positioned to tackle a significant socioeconomic challenge: financial inclusion and access.
With its strong and tested platform that can handle intricate AI implementations, in the middle of the Fintech & AI explosion. Synapse’s adaptable technology, which provides cloud, on-premise, and hybrid deployment options, benefits financial institutions.
Ahmed Abaza, Co-Founder and CEO of Synapse Analytics commented, “AI isn’t just a tool—it’s the catalyst for making financial inclusion a reality in the MEA region. Our technology is designed to help financial institutions make their services inclusive, accessible, affordable, convenient, empowering, and safe.
Imagine accessing financing as easy as signing up for an app with your email. A world where your bank anticipates your needs, making financial services as personalized as your morning coffee. As we usher in this new AI-driven era, we’re crafting the future of finance in a region characterized by a young population, growing economies, and a rapid adoption of digital finance. We see MEA becoming a pioneer in the financial services world, and we couldn’t find a better partner to join us on this mission than the Silicon Badia family.”
In order to position itself as a major participant in the AI-driven transformation of the region, Synapse Analytics has already formed multiple partnerships with major providers of banking products, including AWS, Crealogix, and TUMM.
Egypt’s Cairo is the birthplace of Synapse Analytics, which has its regional headquarters in Abu Dhabi. The World Economic Forum named The HUB71 Startups one of the top 100 companies driving the fourth industrial revolution, among many other honors. Its standing as a hub for AI excellence is further reinforced by the high demand for its internship programs, which draw in over 12,000 bright candidates each year. By empowering financial institutions to leverage AI and usher in a new era of financial services, the company is dedicated to revolutionizing the financial sector.
