Aylien, a leading provider of AI-powered risk intelligence and financial analytics solutions, has announced details of its Series A funding round of €5 million. The latest investment is led by Finch Capital who is joined by existing investors, Atlantic Bridge University Fund, SOSV, and Enterprise Ireland. Finch Capital’s Partner Hans De Back has also joined Aylien’s board of directors.
The latest funding announcement comes after significant growth in 2019 and business partnerships with leaders in the risk and finance space including Microsoft, Aon, and most recently Revolut, the fastest growing fintech company in Europe.
Aylien’s proprietary Artificial Intelligence ingests, structures, and understands the world’s news in 14 languages from over 160 countries using its proprietary Natural Language Processing and Machine Translation technology. This provides their end-users with advanced event discovery and investigation capabilities that allow them to identify and quantify the impact of events that matter to their business often before they break in mainstream media.
“Aylien’s news intelligence solution allows us to provide relevant, timely, and trusted news updates for our wealth and trading customers, that help them make informed decisions when trading in the Revolut app,” said Andre Mohamed, Head of Wealth & Trading at Revolut.
The latest investment will fund additional growth and expansion into the risk intelligence market, as well as the development of a new revenue channel and product line via a user-facing application.
Commenting on the announcement, Parsa Ghaffari, Founder & CEO, Aylien, said: “We turn the world’s news data into a rich, reliable, and real-time source of information for businesses. This new round of funding will enable us to further develop our platform, as well as to expand into the US & UK markets where most of our customers are based. We’re very excited to partner with Finch Capital, who are experts in the FinTech and InsureTech domains.”
Mike Brennan, Principal, Finch Capital said: “Finch Capital are delighted to lead the latest investment round in Aylien and to back such a technically talented team. Aylien have developed world leading Artificial Intelligence and Natural Language Processing technology which we believe has exciting applications across risk management, finance, and intelligence.”
Dr. Helen McBreen, Investment Director and Aylien Board Director, Atlantic Bridge, said: “This investment enables Aylien to continue to expand into new global markets after a successful 2019. The company has achieved strong market growth and very impressive customer adoption, particularly in financial services and risk intelligence markets.”