The strategic investment will allow Synapse Analytics to extend its AI technologies across the GCC and Africa, transforming the financial sector.
Synapse Analytics, a startup that empowers businesses to use AI for improved decision-making, has successfully completed its latest funding round, securing $2 million. Silicon Badia and Hub71 led this funding round.
The strategic investment will allow Synapse Analytics to extend its AI technologies across the GCC and Africa, transforming the financial sector.
Synapse Analytics is a part of Hub71, Abu Dhabi’s global tech ecosystem. The startup aims to address a crucial socio-economic issue: financial inclusion and access. It achieves this by offering state-of-the-art AI software for financial decision-making, including credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB (Know Your Customer/Business) processes.
Amidst the fintech and AI boom, Synapse Analytics has developed a robust and proven platform capable of handling complex AI implementations. Financial institutions benefit from its versatile technology, which offers deployment options including cloud, on-premise, and hybrid models.
Ahmed Abaza, Cofounder 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 easily as signing up for an app with your email.”
“A world where your bank anticipates your needs, making financial services as personalised as your morning coffee. As we usher in this new AI-driven era, we’re crafting the future of finance in a region characterised 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.”
Synapse Analytics’ suite of solutions includes:
- Konan is the flagship machine learning operations platform that facilitates easy integration and adoption of AI. It helps financial institutions with credit risk, pricing, product matching, and building workflows while seamlessly integrating machine learning within existing decision rules. Konan’s prebuilt models and data enrichment features optimise risk assessment, increase loan approval accuracy, and expand customer coverage.
- Doxter is a comprehensive document extraction and process automation platform that allows clients to process and store verifiable data from diverse documents, such as IDs, financial statements, and legal documents. It is highly customisable to meet specific needs. For MSMEs, Doxter also offers full Retrieval Augmented Generation (RAG), making onboarding and decision-making much faster and easier.
Synapse Analytics has partnered with significant banking product providers such as AWS, Crealogix, and TUMM, positioning itself as a critical player in the region’s AI-driven transformation.
