Signzy announced that it has raised $3 million from Vertex Ventures, expanding its latest funding round to $8.4 million. Signzy has recently raised $5.4 million in a financing round led by Arkam Ventures and Mastercard, along with existing investors Kalaari Capital and Stellaris Venture Partners.
Signzy offers a ‘no-code AI platform’ that helps financial service companies automate risk and compliance processes. The company plans to invest in strengthening its AI platform and expanding its global sales team.
Commenting on the funds raised, Ankit Ratan, co-founder of Signzy said, “We are glad to receive such tremendous support from our investors, and their faith and trust in us is a great encouragement for the entire Signzy team to double down on executing the next phase of our growth strategy.”
“Signzy has built a differentiated expertise in AI within a short period. Signzy team has executed an ambitious global strategy with great success so far,” said Piyush Kharbanda, Partner, Vertex Ventures.
Founded in 2015 by Ankit Ratan, Ankur Pandey and Arpit Ratan, Signzy offers a ‘no code AI platform’ that helps financial services automate risk and compliance processes. Today the company works with over 90+ FIs globally including the 4 largest banks in India and a Top 3 acquiring Bank in US.
“In a global effort to create a digital-first experience for our customers, Mastercard is enabling solutions and partnerships such as Signzy to enable faster growth for acquirers, their payment facilitators, and the businesses we serve today. Our goal is to support the accelerated growth of the acceptance ecosystem by working together with such partners and scaling strong technologies like smart merchant onboarding,” Zahir Khoja, Executive Vice President, Merchant Solutions and Partnerships at Mastercard.
In partnership with Mastercard, Signzy has launched offices in New York and Dubai to serve its customers in the North America and Middle-East markets. The company now aims to expand its international presence in other markets.
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