- Synapse Analytics, an Egypt-founded enterprise AI platform for financial institutions, has raised USD 13M in a Series A round led by Paris-based Partech, with participation from Algebra Ventures and Silicon Badia.
- It will use the new funding to expand engineering and commercial teams, product development, and international distribution.
Egypt-born Synapse Analytics has raised USD 13 million in a Series A funding round led by Partech, with participation from Algebra Ventures and Silicon Badia. Founded in 2018 by Ahmed Abaza and Galal Elbeshbishy, the startup has now raised a total of USD 17 million.1
The company provides AI-powered decisioning infrastructure for financial institutions, focusing on areas such as credit scoring, customer onboarding, fraud prevention, AML, and portfolio management. Its software can be integrated into clients' existing IT environments, including on-premises and private clouds, addressing data sovereignty and regulatory requirements.
Synapse Analytics serves a diverse clientele, including banks, fintechs, non-bank financial institutions, and telecoms across the Middle East, Africa, and Latin America. The new funding will be allocated to expanding its engineering and commercial teams, enhancing product development, and boosting international distribution efforts.2
With this investment, Synapse aims to solidify its position in the rapidly evolving AI landscape, catering to the growing demand for advanced financial solutions.
“The funding will be used to expand engineering and commercial teams, product development, and international distribution. Partech, Algebra Ventures, and Silicon Badia participated in the round, backing the platform for financial institutions.”
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